Securitize: From Partner Network to Vertical Giant (BlackRock, BUIDL, SPAC)

From “Securitize Ready” to Vertical Dominance

In 2019, Securitize launched the “Securitize Ready” program with a vision to create a collaborative network of external partners to handle custody, trading, and legal services. While that initiative laid the important groundwork for the industry, the company’s strategy has since evolved dramatically. Rather than relying on a loose federation of partners, Securitize has shifted to a model of vertical integration, systematically acquiring the infrastructure needed to become the first true one-stop-shop for digital securities.

Through a series of strategic acquisitions, Securitize has transformed itself from a software provider into a fully regulated financial powerhouse, bridging the gap between traditional Wall Street compliance and blockchain innovation.

Vertical Integration Strategy

The company realized that to service institutional clients, it needed to control the entire lifecycle of the security. This led to a spree of critical acquisitions:

• Transfer Agent: By acquiring Pacific Stock Transfer, Securitize became a Top 10 regulated transfer agent in the United States. This move allowed them to manage capitalization tables and corporate actions for over 1.2 million shareholders, a scale previously unheard of in the crypto sector.
• Trading (ATS): The company acquired Distributed Technology Markets (DTM) to launch Securitize Markets, its own SEC-registered Alternative Trading System (ATS). This venue allows for the compliant secondary trading of tokenized assets, solving the liquidity problem that plagued early STOs.
• Wealth Management: In 2023, it acquired Onramp Invest, a technology platform that connects Registered Investment Advisors (RIAs) to alternative assets. This effectively opened a distribution pipeline to over $40 billion in advised assets, allowing financial advisors to easily place crypto and tokenized funds into client portfolios.

The BlackRock Partnership: The BUIDL Fund

The culmination of this infrastructure build-out is the historic partnership with BlackRock, the world’s largest asset manager. In 2024, Securitize was selected as the transfer agent and tokenization platform for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

This fund is a landmark development for the industry. Issued on the Ethereum blockchain, BUIDL allows institutional investors to earn yield on U.S. Treasury bills while holding a digital token that maintains a stable $1 value. Unlike traditional funds, BUIDL offers:

• Instant Settlement: Investors can subscribe and redeem 24/7/365.
• Transparency: Ownership is recorded on the public blockchain.
• Utility: The token can be used as collateral in the wider crypto ecosystem (e.g., with prime brokers like FalconX).

The fund was an immediate success, surpassing $500 million in assets under management (AUM) within months of its launch, making it the largest tokenized treasury fund in the world.

Going Public: The Cantor Fitzgerald SPAC

Securitize’s rapid growth and institutional adoption have positioned it for the public markets. In late 2024, reports confirmed that the company entered into a definitive agreement to go public via a merger with Cantor Equity Partners II, a Special Purpose Acquisition Company (SPAC) sponsored by the financial services firm Cantor Fitzgerald.

The deal values Securitize at approximately $1.25 billion. This valuation marks a massive leap from the $12.75 million Series A funding round mentioned in early coverage, reflecting the company’s evolution from a startup into a critical pillar of market infrastructure.

Ecosystem Evolution

While the original “Securitize Ready” partners like OpenFinance Network have exited the scene (acquired by INX in 2021), Securitize’s current ecosystem features the heavyweights of global finance. Their platform now integrates with top-tier custodians like Anchorage Digital, Copper, and BitGo, and supports issuance across multiple blockchains including Ethereum, Polygon, Avalanche, and Aptos.