Securitize debuted on the NYSE with SECZ shares, rising 8% while launching $266 million in tokenized shares on Solana and Avalanche.
Securitize's Public Debut
Securitize (SECZ), a firm specializing in tokenization and backed by BlackRock, made its public trading debut on the New York Stock Exchange (NYSE) on Thursday, seeing its shares rise over 8% to approximately $12.75.
The company's entry into the public market comes eight years after its founding, facilitated by a merger with a special purpose acquisition company (SPAC) supported by Cantor Fitzgerald.
Tokenization Milestone
In addition to traditional trading, Securitize has tokenized $266 million worth of its shares, positioning it as the largest tokenized stock globally. This innovative move underscores the firm's commitment to developing a regulated infrastructure for future capital markets.
“We’ve always believed that public equities would transition to on-chain, and there’s no stronger evidence of that than tokenizing our own public stock on the first day,” said Carlos Domingo, co-founder and CEO of Securitize.
The tokenized shares are available on the Avalanche and Solana layer-1 networks and can also be accessed by qualified investors through Securitize's regulated platform.
Domingo described SECZ as a true representation of common stock, emphasizing that it is not a synthetic token but an issuer-sponsored tokenization of shares trading on the NYSE. He noted that this move serves as a model for other public companies considering tokenization to enhance shareholder experiences.
Earlier this week, Securitize President Brett Redfearn highlighted the disruptive potential of tokenization, suggesting it could significantly enhance asset utilization and streamline processes by reducing the need for intermediaries. By June, Securitize had accumulated over $4 billion in assets under management.
