Securitize to Debut on NYSE as BlackRock-Backed Tokenization Firm Goes Public
Securitize, a tokenization firm backed by BlackRock, is set to begin trading on the New York Stock Exchange next week under the ticker 'SECZ' after merging with a Cantor Fitzgerald-backed SPAC. The deal is expected to close with roughly $400 million in proceeds from the combination and private financing. CEO Carlos Domingo called the debut a pivotal milestone for tokenization, marking its shift from theoretical to mainstream finance. The company has over $4 billion in assets under management, including BlackRock's BUIDL fund valued at $2.4 billion. Securitize has partnered with major institutions like Apollo, BNY, Hamilton Lane, and KKR, and in March agreed with NYSE to develop systems for blockchain-native securities. The listing tests Wall Street's appetite for tokenization-related firms as the SEC delays an innovation exemption for tokenized stocks due to concerns about third-party issuers complicating corporate actions. SEC Chair Paul Atkins has praised tokenization's potential to transform markets.
Key facts
- Securitize to trade on NYSE under ticker SECZ after SPAC merger.
- Firm expects ~$400 million in proceeds from deal and private financing.
- CEO says debut marks tokenization's shift to mainstream finance.
- Company manages over $4 billion in assets, including BlackRock's BUIDL.
- Securitize partnered with NYSE in March for blockchain-native securities.