Tokenization · New York · JPMorgan · OKX · The Block
Securitize becomes first to debut shares on NYSE and onchain, but it won’t be the last
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Leading tokenization firm Securitize (SECZ) began trading on the New York Stock Exchange on Thursday following a business combination with Cantor Equity Partners II late Wednesday.
Key facts
- After opening at $12.45, SECZ hit a midday high of $13.70, about a 10% jump, and closed the day at $12.30
- The company reported Q1 revenue of $19.5 million, up 39% from the same quarter a year earlier and its best to date
- Stocks tokenized through Securitize won’t merely be backed 1:1 with an underlying asset, but will be issuer-sponsored tokens, where the token itself is the security, as per the Security Exchange
- Securitize also launched tokenized versions of full SECZ shares on Solana and Avalanche, enabling broader global access to the stock and 24/7 trading, among other potential use cases
Summary
After opening at $12.45, SECZ hit a midday high of $13.70, about a 10% jump, and closed the day at $12.30. Securitize also launched tokenized versions of full SECZ shares on Solana and Avalanche, enabling broader global access to the stock and 24/7 trading, among other potential use cases. This means that even though traditional U.S. stock markets will be closed Friday in observance of Independence Day, SECZ will continue to trade. "We're gonna eat our own dog food," Securitize President Brett Redfearn told The Block, discussing plans to bring stocks onchain.