Overview
- Securitize shares debuted publicly on Thursday, experiencing a rise of over 8% during the day.
- The company has also tokenized $266 million worth of shares on Solana and Avalanche.
- Securitize became public through a merger with a blank check company supported by Cantor Fitzgerald.
Shares of Securitize (SECZ), a tokenization firm supported by BlackRock, surged more than 8% on their first trading day, trading at approximately $12.75.
The company started trading on the New York Stock Exchange (NYSE) on Thursday, marking its entry into public markets eight years after its establishment, facilitated by a merger with a Cantor Fitzgerald-backed SPAC.
“Our focus remains clear: to build the regulated infrastructure for the next generation of capital markets,” the firm announced on X.
While the shares began trading on traditional exchanges, they also became available on the blockchain, with $266 million worth of SECZ tokenized, a milestone that the firm claims makes it the largest tokenized stock globally.
“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,” stated Carlos Domingo, co-founder and CEO of Securitize, in a communication shared via X.
“SECZ is not a synthetic token or an offshore wrapper; it represents issuer-sponsored tokenization of the same common stock that is trading on the NYSE, facilitated through regulated infrastructure,” he explained.
The tokenized SECZ is launching on layer-1 networks Avalanche and Solana, while also being available to qualified investors via the firm's regulated tokenization platform.
“Bringing SECZ on-chain is not merely a milestone for Securitize; it serves as a model for public companies looking to utilize tokenization to enhance ownership experiences for their shareholders,” Domingo added.
Earlier this week, Securitize President Brett Redfearn remarked to Decrypt that “tokenization is like a trojan horse for consumers,” highlighting the potential for improved asset utilization, such as through decentralized lending that eliminates intermediaries.
“I believe that business is entirely subject to disruption,” Redfearn stated. “There are numerous opportunities when traditional businesses are disintermediated.”
By June, Securitize had amassed over $4 billion in assets under management.