Securitize to List as SECZ via SPAC Deal, Aims to Scale Tokenization Beyond Stablecoins

Securitize is moving from proof-of-concept to scale. The asset-tokenization platform has agreed to merge with Nasdaq-listed SPAC Cantor Equity Partners II (ticker: CEPT), a deal that would list the company as SECZ and bankroll a push beyond the stablecoin use cases that have dominated early tokenization. What the deal looks like - The transaction, first announced in late 2025, values Securitize at roughly $1.25 billion pre‑money. If there are no redemptions, the merger could deliver up to about $465 million in gross proceeds — roughly $240 million from the SPAC trust plus some $225 million from PIPE commitments from investors including Borderless Capital and Hanwha Investment. - In January 2026 Securitize Holdings, Inc. (the post‑merger “Pubco”) filed an S‑4 with the SEC, formalizing the combination and publishing projected financials. The company says it expects to be debt‑free pro forma and is projecting roughly $110 million in revenue and about $24 million in net income for 2026. - Closing still depends on customary conditions: SEC clearance of the S‑4, CEPT shareholder approval and meeting Nasdaq listing requirements. Why this matters Securitize has built its business tokenizing real‑world assets — private securities, funds and other institutional products — and acting as a registered transfer agent and digital‑asset securities platform. It has been involved in high‑profile deals such as BlackRock’s BUIDL tokenized money‑market fund and KKR’s tokenized feeder funds. CEO and co‑founder Carlos Domingo told investors the tokenization unit is already profitable, driven by partnerships with large financial institutions, and that the SPAC is meant to “accelerate” growth and align the company with shifting institutional dynamics in stablecoins and tokenized securities. A broader play than stablecoins Domingo and Securitize are explicit that the firm’s ambition goes well beyond issuing stablecoins and tokenized treasuries. Their thesis: traditional assets — private credit, equity, real estate, funds, even government debt and listed equities — will increasingly be issued and traded as blockchain-native, programmable tokens that enable fractional ownership, broader access and improved secondary liquidity. Listing as a public company — and planning to tokenize its own equity on chain — is positioned as both a capital raise and a signal that Securitize intends to sit at the intersection of conventional capital markets and on‑chain finance. Market and industry implications If completed, the CEPT merger would make Securitize one of the first large, pure‑play tokenization platforms listed on a major U.S. exchange. A successful public debut with real revenue and profitability would be a notable proof‑point for the idea that on‑chain securities infrastructure can support sustained institutional growth — and would give public‑market investors a direct way to bet on tokenization as a theme. The move also arrives amid other industry developments (from Börse Stuttgart’s Seturion platform to venture theses about a “cloud‑style” migration of finance on chain), underscoring that tokenization is evolving into a capital‑intensive, institutional business rather than a niche experiment. Next steps Investors and industry observers will now watch for SEC approval of the S‑4, CEPT shareholder votes and Nasdaq sign‑off. If those go through, Securitize expects to operate publicly under SECZ and use the new capital to scale its stack, expand product coverage beyond stablecoins, and pursue a vision of broad tokenized markets. Bottom line: Securitize’s SPAC route is both pragmatic financing and a high‑profile attempt to turn tokenization into mainstream, institutional infrastructure. If the economics and execution hold up, it could shift how many traditional assets are issued, held and traded.