Karla Barker 
Profitability and strategic goals
Over a recent investor call, Securitize co-founder and CEO Carlos Domingo said the company has already reached profitability in the asset tokenization business. This profitability is driven by partnerships with large financial institutions. Domingo emphasized that Securitize intends to use the SPAC transaction to accelerate its mission. The challenge, as he sees it, is how to trade more assets in tokenized form beyond the stablecoin and money market fund products that have dominated the early wave of tokenization.
SPAC structure and the listing plan
Under the merger agreement, Cantor Equity Partners II will combine with Securitize at a pre-money valuation of around $1.25 billion. The transaction is expected to deliver up to roughly $465 million in gross proceeds if there are no redemptions. This includes about $240 million from the SPAC’s trust and $225 million from private investment in public equity (PIPE) commitments from investors such as Borderless Capital and Hanwha Investment.
In January 2026, Securitize Holdings, Inc., the post-merger public company, filed a Form S-4 registration statement with the U.S. Securities and Exchange Commission. This filing formalized the deal and detailed the combined company’s projected financials. The filing notes that Securitize expects to be debt-free on a pro forma basis post-merger. It is projecting around $110 million in revenue and $24 million in net income for 2026.
Completion of the SPAC transaction still hinges on customary closing conditions. These include SEC clearance of the S-4, shareholder approval from CEPT investors, and satisfaction of Nasdaq listing requirements. Until those boxes are ticked, Securitize remains private, though it is already positioning itself as a public-market candidate in the tokenization sector.
Expanding beyond stablecoins into tokenized securities
Securitize has built its reputation on tokenizing real-world assets, particularly private market securities and funds, rather than on issuing generic utility tokens. The company acts as a registered transfer agent and digital asset securities platform. It has been a key infrastructure provider for high-profile tokenization deals, including BlackRock’s BUIDL tokenized money market fund and KKR’s tokenized feeder funds.
Domingo has argued that tokenization’s real value lies in upgrading traditional assets to programmable, blockchain-native formats that can improve access, fractional ownership, and secondary market liquidity. During a recent interview, he said that becoming a public company while simultaneously tokenizing its own equity on chain shows how Securitize intends to operate at the intersection of traditional capital markets and on-chain finance.
The firm’s strategy is explicitly broader than stablecoins. While stablecoins and tokenized treasuries have proven highly profitable for issuers, Securitize is betting that everything from private credit and equity to real estate and funds will eventually be issued and traded as digital tokens. It wants to become the default stack for that transition.
What the SPAC means for tokenization
If the CEPT deal closes, Securitize would become one of the first large, pure-play tokenization platforms listed on a major U.S. exchange. It would join a small group of blockchain-native firms that have used SPACs to reach public markets. For the broader tokenization narrative to work, a successful listing with real revenue and profitability would be a significant proof that on-chain securities infrastructure can sustain a public-company balance sheet.
It would also give public-market investors a direct way to express a view on asset tokenization as a theme, rather than just buying tokenized funds or blockchain equities indirectly exposed to the space. With other developments like Börse Stuttgart’s Seturion platform and a16z’s thesis that finance is undergoing a cloud-style migration to on-chain infrastructure, Securitize’s planned SPAC listing suggests that tokenization is no longer a thought experiment. It is a capital-intensive, institutional business trying to scale.