New York · Tesla · Fortune Technology
Cantor Fitzgerald eyes blockchain-based IPO shares in new tie-up with Securitize
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There is a movement afoot to redesign the U.S. equities market by issuing shares in the form of digital tokens that can be traded around the clock, and where trades are cleared and settled instantly.
Key facts
- We also see a thriving market where clients and issuers may be interested in dipping a toe in the water and doing 5% to 10% of their offering in tokenized form,” said Boehmke
- Billy Miller, the COO of Securitize, said the firm’s model of tokenization will grow in popularity because, compared to wrapped tokens held in an SPV, it offers both companies and investors a safer
- Cantor’s partnership is with Securitize, a New York firm that specializes in creating blockchain-native shares that, from a regulatory perspective, closely resemble traditional securities
- Ben Boehmke, Head of Strategies for Equities at Cantor, says the firm chose to partner with Securitize in part because of its compliance-first approach
Summary
Cantor’s partnership is with Securitize, a New York firm that specializes in creating blockchain-native shares that, from a regulatory perspective, closely resemble traditional securities. The tokenization model used by Securitize, as well as rival SuperState, is more technology intensive than the one used by Robinhood, Kraken and other firms that are rapidly adopting blockchain-based shares. The wrapper model is controversial since it typically entails issuing blockchain versions of popular stocks like Tesla or Apple without the involvement of the companies.