BlackRock-backed tokenization firm Securitize clears key hurdle to go public on NYSE
The tokenization specialist behind BlackRock’s BUIDL fund could begin trading on the NYSE as SEC approves merger registration.
What to know:
- Securitize cleared a major regulatory hurdle in its plan to become a publicly traded company.
- Shareholders are set to vote on the merger with Cantor-backed SPAC on June 29, with closing expected shortly afterward.
- The move comes after several crypto firms have halted plans to go public amid turbulent crypto markets.
The deal now heads to a shareholder vote scheduled for June 29. If approved, the transaction is expected to close shortly thereafter, with the combined company trading on the New York Stock Exchange under the ticker “SECZ.”
The milestone comes as tokenization has emerged as one of the fastest-growing trends in finance. The process involves creating blockchain-based representations of traditional assets such as funds, bonds, private credit and equities. Proponents argue the technology can reduce settlement times, lower costs and enable assets to trade around the clock.
The market has attracted growing interest from global banks and asset managers including BlackRock, Franklin Templeton, JPMorgan and Fidelity. The tokenized asset market nearly tripled in a year surpassing $30 billion, RWA.xyz data shows. Citi has projected tokenized assets could reach $5.5 trillion by 2030, while a joint report from Boston Consulting Group and Ripple estimated the market could grow to $18.9 trillion by 2033.
