In short
- Securitize expects to begin trading next week under the ticker symbol “SECZ,” after completing a merger with the unsecured company.
- The debut of the BlackRock-backed tokenization expert will test Wall Street’s appetite for companies built on the emerging market.
- The company’s debut on the NYSE comes as the SEC grapples with the release of a new stock symbol.
Whether the interest of Wall Street is a symbol defines the importance of companies that are closely related to technology is expected to be tested next week along with the expected results of Securitize.
The BlackRock-backed firm, which works on digital representations of real assets, he announced plans to trade on the New York Stock Exchange under the symbol “SECZ,” after completing a merger with the Cantor Fitzgerald-backed blank-check firm.
Completion of the deal came close this week when investors who own less than 30% of Cantor Equity Partners II’s common stock elected to redeem their holdings in the SPAC. As a result, Securitize expects to receive approximately $400 million in aggregate and related private equity funds prior to the closing of the transaction.
The launch of Securitize to the public, coming eight years after the company was founded, is an important step in the management, which shows the transition of technology from the streams of financial markets to the starting point of modern finance, according to CEO Carlos Domingo.
“The idea that big corporations would get legal protections was a fantasy,” he said. “Today, tokenization is moving forward, and we believe that being a public company provides us with transparency, integrity, and advanced investment.”
In recent years, Securitize has become a popular tool in more than one of the world’s largest asset management organizations – namely. thrown the stock market fund company in 2024—such as Apollo, BNY, Hamilton Lane, and KKR. In March, Securitize uncovered partnership with the NYSE itself to create blockchain-native securities systems.
Securitize reported that, as of June, the company had more than $4 billion in assets under management. By far, the company’s biggest asset is BlackRock’s BUIDL, which was valued at $2.4 billion on Friday, according to RWA.xyz.
Like giants like DTCC go deep in space, Domingo has been promoting the “native” brand, to argue that securities must be issued directly on-chain rather than wrapped in digital shells to achieve their full potential.
Last month, SEC he says delayed the new exemption for tokenized stocks after concerns about third-party issuers, who could interfere with corporate actions and governance through tokens issued on the chain, on Bloomberg.
Since he became the chairman of the SEC, Paul Atkins has described technology as technology that “has the potential to change markets” through revolutionary trading, explaining. comments made BlackRock CEO Larry Fink during the crypto market boom in 2022.
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