Securitize in Talks for $1 Billion SPAC Merger with Cantor Equity Partners II Inc.

Executive Summary

Securitize, a leading tokenization platform, is reportedly in discussions to go public via a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners II Inc., a deal that could value the firm at over $1 billion. This development signals a significant step in the institutional adoption of tokenized real-world assets (RWAs) and a broader trend of digital-asset companies pursuing public listings.

The Event in Detail

Securitize, known for its work in blockchain-based investment products, including its role in BlackRock's tokenized US Treasury fund, is reportedly negotiating a merger with Cantor Equity Partners II Inc., a blank-check firm backed by Cantor Fitzgerald. Sources indicate that this potential transaction could value Securitize at over $1 billion. The SPAC route facilitates a private company's public listing by merging with an already publicly traded shell entity, bypassing the often extended traditional initial public offering (IPO) process. This approach has gained traction among crypto-focused companies in recent years.

Securitize has demonstrated financial growth, reporting $28.8 million in revenue in 2025. The company has raised a total of $136 million in funding, including a $47 million round in May 2024 led by BlackRock, with additional investments from Paxos, Aptos Labs, and Circle. Jump Crypto also provided further investment in 2025. Securitize is registered with the U.S. Securities and Exchange Commission (SEC) as a transfer agent and operates under licenses in parts of Europe and Japan, underpinning its focus on regulatory compliance.

Market Implications

This potential SPAC deal represents a significant milestone for the tokenization sector. Should Securitize go public, it would be among the first major tokenization platforms to enter public markets, setting a precedent for other firms in the space. The event underscores increasing institutional interest in blockchain-based financial infrastructure and tokenized real-world assets (RWAs). The tokenized RWA market has already reached approximately $33.20 billion on-chain as of early October 2025, with tokenized money market funds (MMFs) surpassing $1 billion in assets under management (AUM) by Q1 2024.

Securitize's strategic positioning, highlighted by its compliance-focused platform, has attracted major institutional partners. Its collaboration with BlackRock on the BUIDL fund, a tokenized money market fund that manages $2.86 billion in assets, has contributed to an 800% surge in tokenized Treasury products, which now total nearly $7 billion. Furthermore, integrations with Ripple's RLUSD stablecoin for seamless conversions and Wormhole for multichain interoperability enhance its ecosystem, aiming to bridge traditional finance with decentralized finance (DeFi) in a compliant manner.

Broader Context

The move aligns with a broader trend of institutional onboarding in the crypto and digital-asset sectors observed throughout 2025, with companies like Circle, Figure Technology, Gemini, and Bullish also pursuing public listings. Traditional financial players such as BNY Mellon, Goldman Sachs, and Franklin Templeton are actively deepening their involvement in tokenized markets, developing enterprise-level infrastructure and offering tokenized MMFs. Apollo Global Management is also expanding into tokenized markets with its Apollo Digital Credit platform, focusing on illiquid assets.

Securitize's strategy emphasizes regulatory compliance as a competitive edge, positioning it to capitalize on the estimated $150 trillion real-world asset tokenization market. By providing a platform for issuing compliant digital securities and automating adherence to securities laws via its DS Protocol, Securitize addresses a critical pain point in capital markets. This anticipated public listing is expected to accelerate mainstream awareness and investment in tokenized RWAs, potentially quickening the adoption of onchain finance by traditional financial institutions globally and further validating the maturity of the digital asset sector.