Tokenization · New York · Cointelegraph
Securitize gains on NYSE debut with tokenized stocks live on Solana, Avalanche
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Securitize has issued tokenized versions of its shares on Solana and Avalanche, marking the first time a newly public company has done so on its debut.
Key facts
- Shares in Securitize (SECZ) hit a high of $13.70 in trading Thursday but retracted slightly and ended the day at $12.30, a gain of 4.4%
- The market for tokenized real-world assets currently exceeds $43 billion, most which is tokenized money market funds, while tokenized commodities account for nearly $7 billion and tokenized stocks
- Analysts expect the tokenization market to grow quickly in the coming years, with Citigroup predicting last month that it could grow to between $5.5 trillion and $8.2 trillion by 2030
- Securitize raised $400 million from its public offering at a valuation of more than $1 billion
Summary
Tokenization platform Securitize rallied on its New York Stock Exchange debut on Thursday, as it brought tokenized versions of its shares to two blockchains. The company, which is backed by BlackRock and Morgan Stanley, began trading on the NYSE under the ticker SECZ on Thursday after merging with a Cantor Fitzgerald-backed special-purpose acquisition company to take it public. Securitize said Thursday that it simultaneously launched tokenized versions of its shares on the Avalanche and Solana blockchains, which will be available to eligible US investors on its platform. It marks the first time a newly public company has also offered tokenized stocks, an area of crypto technology that has quickly gained attention among major institutions drawn to the idea that it can bring deeper liquidity and longer trading hours.