Asset tokenization platform Securitize is pushing ahead with a SPAC merger on Nasdaq, aiming to accelerate its shift from stablecoins into a broader universe of tokenized securities. CEO Carlos Domingo told investors on a recent call that the company has already turned profitable in asset tokenization, driven by partnerships with large financial institutions.
The company is combining with Cantor Equity Partners II (ticker: CEPT), a Nasdaq-listed SPAC sponsored by an affiliate of Cantor Fitzgerald. The deal values Securitize at a pre-money valuation of roughly $1.25 billion. If no redemptions occur, gross proceeds could reach about $465 million: roughly $240 million from the SPAC trust and $225 million from a PIPE round featuring investors like Borderless Capital and Hanwha Investment. After closing, Securitize will trade under the ticker SECZ.
SEC Filing Submitted; Closing Expected in 2026
In January 2026, Securitize Holdings Inc. filed an S-4 registration statement with the U.S. Securities and Exchange Commission, formalizing the merger and laying out projected financials. The filing estimates $110 million in revenue and $24 million in net income for 2026, with a pro forma debt-free balance sheet. Completion remains subject to SEC clearance, CEPT shareholder approval, and Nasdaq listing requirements. While still private, Securitize is already positioning itself as a de facto public-market candidate in tokenization.
From Stablecoins to Equities, Credit, and Real Estate
Securitize has built its reputation on tokenizing real-world assets — particularly private market securities and funds — rather than issuing generic utility tokens. It acts as a registered transfer agent and digital asset securities platform, having served as key infrastructure for BlackRock's BUIDL tokenized money market fund and KKR's tokenized feeder funds. Domingo argues that tokenization's real value lies in upgrading traditional assets to programmable, blockchain-native formats that improve access, fractional ownership, and secondary market liquidity.
Domingo framed the SPAC listing as both a capital raise and a signaling device: becoming a public company while simultaneously tokenizing its own equity on chain demonstrates how Securitize intends to operate at the intersection of traditional capital markets and on-chain finance. The firm's strategy extends well beyond stablecoins. While stablecoins and tokenized treasuries have been highly profitable, Securitize is betting that private credit, equity, real estate, and funds will eventually be issued and traded as digital tokens, and it wants to become the default stack for that transition.
If the CEPT deal closes, Securitize would become one of the first large, pure-play tokenization platforms listed on a major U.S. exchange — joining a small group of blockchain-native firms that used SPACs to reach public markets. A successful listing with real revenue and profitability would serve as a proof of concept that on-chain securities infrastructure can sustain a public-company balance sheet. It also gives public-market investors a direct way to express a view on asset tokenization as a theme, rather than buying tokenized funds or blockchain equities with indirect exposure. Alongside developments like Börse Stuttgart's Seturion platform and a16z's thesis of a cloud-style migration to on-chain infrastructure, Securitize's SPAC plan underscores that tokenization has moved from a thought experiment to a capital-intensive, institutional business trying to scale.