Securitize, a prominent tokenization platform, is reportedly in discussions to go public through a merger with Cantor Equity Partners II Inc., a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald. Sources familiar with the matter indicate the deal could value Securitize at over $1 billion. While negotiations are ongoing, there is a possibility that Securitize may decide to remain a private entity.
Securitize has established itself as a key player in the blockchain space, particularly in the tokenization of real-world assets (RWAs). The company is behind several major blockchain-based investment products, including BlackRock's tokenized US Treasury fund. As a registered transfer agent with the U.S. Securities and Exchange Commission (SEC), Securitize operates under licenses in Europe and Japan. In May 2024, Securitize completed a $47 million funding round led by BlackRock, with participation from Paxos, Aptos Labs, and Circle. Jump Crypto made an additional investment in 2025.
A SPAC is a publicly traded shell corporation that raises capital to acquire a private firm. The private company then becomes public without having to go through the traditional initial public offering (IPO) procedure, which is typically longer.
Several crypto-focused companies have pursued this path in recent years. Bakkt merged with VPC Impact Acquisition Holdings, and Core Scientific merged with Power & Digital Infrastructure Acquisition Corp. Circle, the issuer of the USDC stablecoin, had planned a SPAC merger with Concord Acquisition Corp in 2021, but the deal was later terminated. Circle went public earlier this year.
The potential transaction would mark one of the first major tokenization platforms to enter public markets, reflecting growing institutional interest in blockchain-based financial infrastructure. The SPAC route allows private companies to bypass traditional IPO processes by merging with a publicly traded shell entity, enabling quicker access to capital and liquidity.
Cantor Fitzgerald's involvement adds credibility. The firm has underwritten 14 SPAC deals in 2025, raising $3.6 billion. Cantor's recent merger with a Bitcoin-focused entity (Twenty One Capital) underscores its expertise in digital-asset integration.
Securitize's revenue growth reflects its ability to monetize this niche. Securitize's decision to pursue a SPAC merger with Cantor Fitzgerald is emblematic of the broader fintech SPAC renaissance. SPACs offer a faster, more flexible path to public markets, particularly for firms with complex regulatory profiles. The proposed valuation for Securitize is aggressive but justified by its market leadership. With substantial funding and a first-mover advantage in tokenization, the company is well-positioned to scale. The SPAC route also aligns with 2025's broader trend of institutional onboarding in crypto.
