BlackRock-backed tokenization specialist SecurityTides is one step closer to becoming a public company after the U.S. Securities and Exchange Commission approved a key filing related to its planned merger with a special acquisition company (SPAC).
The agency declared Securitize’s registration statement for its proposed merger with Cantor Equity Partners II (CEPT) to be valid. The companies announced Friday that the merger will be with a blank check company sponsored by an affiliate of Cantor Fitzgerald.
The transaction is currently pending for a shareholder vote scheduled for June 29th. If approved, the transaction is expected to close shortly thereafter and the combined company will trade on the New York Stock Exchange under the ticker “SECZ.”
This milestone comes as tokenization has emerged as one of the fastest growing trends in the financial sector. This process involves creating blockchain-based representations of traditional assets such as funds, bonds, private credit, and stocks. Proponents claim the technology speeds settlement times, lowers costs and allows assets to be traded around the clock.
This market is attracting increasing interest from global banks and asset managers such as BlackRock, Franklin Templeton, JPMorgan, and Fidelity. The tokenized asset market has nearly tripled in one year to over $30 billion, according to data from RWA.xyz. Citi predicts that tokenized assets could reach $5.5 trillion by 2030, and a joint report by Boston Consulting Group and Ripple predicts the market could grow to $18.9 trillion by 2033.
Securitize has become one of the most prominent infrastructure providers in the space, providing the tokenization, transfer agent, and trading technology behind products for companies such as BlackRock, Apollo, KKR, Hamilton Lane, and VanEck.
The company’s most high-profile partnership is with BlackRock’s BUIDL Fund, a tokenized money market fund founded in 2024 that has grown to become one of the largest tokenized Treasury products on the market.
The company also helped build the New York Stock Exchange’s tokenized securities platform earlier this year.
Securitize’s move forward with plans to go public is noteworthy as several crypto companies such as Kraken and ConsenSys have halted their efforts amid the turmoil in the crypto market.
