BlackRock-backed Securitize has become the first new public company to tokenize its common stock on the day it begins trading on the New York Stock Exchange.
Summary
- Securitize listed its NYSE-listed common stock on Solana and Avalanche on its first day of trading.
- The company said the SECZ tokens represent the same common stock, not a separate class of stock.
- The listing follows a $400 million SPAC deal as Securitize expands its tokenized real-world asset business.
According to Securitize, the company launched tokenized versions of its NYSE-listed common stock under the ticker SECZ on the Solana and Avalanche blockchains. Eligible American investors can access the token shares through the company’s regulated platform, while the stock itself is publicly traded on the NYSE following the completion of its business combination with Cantor Equity Partners II.
The company said that shareholder participation has already made the SECZ the largest tokenized stock exchange in the world. It added that bringing its equity to the onchain from the first day of public trading shows the regulated infrastructure it has spent years building for tokenized securities.
The SECZ token represents the same shares listed on the NYSE
According to Securitize, SECZ’s blockchain-based tokens represent the same stock traded on the New York Stock Exchange rather than a separate class of shares. The company explained that the tokens only change the ownership format, while shareholders remain subject to the same legal, contractual, and transfer restrictions that apply to the underlying stock.
Securitize also said it expects to establish an onchain shareholder base from the first day of trading, with additional functionality and market infrastructure expected to develop as tokenized regulated securities continue to mature.
The listing follows shareholder approval of the merger between Securitize and Cantor Equity Partners II. As previously reported by crypto.news, less than 30% of the shareholders of the special purpose acquisition company redeemed their shares, leaving more than 71% of the trust intact before the closing of the transaction.
Last week, Securitize said the deal is expected to generate approximately $400 million in cash, including proceeds from related private equity investments in public equity financing and transaction costs. Crypto.news previously reported that the funding includes a $225 million private investment round.
SECZ shares rose more than 10% in early trading, reaching more than $12, according to Yahoo Finance. The gains came as Bitcoin rebounded to around $62,000, lifting several publicly-traded companies aligned with the digital asset market.
Expansion continues beyond token market capitalization
Securitize’s latest move comes as the company continues to expand its offering of tokenized assets in addition to money market funds. As previously reported by crypto.news, Athena Labs plans to allocate $250 million to Securitize’s tokenized AAA-rated collateralized bligation fund after the product is extended to Solana.
According to crypto.news, the fund invests in AAA-rated U.S. dollar bonds, with BNY acting as the custodian of the underlying assets and acting as a sub-advisor through BNY Investments.
The company has consistently stated that traditional financial assets will increasingly migrate to blockchain networks through regulated, issuer-backed platforms. By listing its publicly traded shares on the chain, Securitize uses that approach to its own equity instead of limiting tokens to third-party assets.
Interest in traditional tokenized financial products has continued to grow throughout the asset management industry. As previously reported by crypto.news, firms including BlackRock and Franklin Templeton have increased their presence in the token money market, adding momentum to the use of blockchain infrastructure for regulated financial products.
