Securitize: Från partnernätverk till vertikal jätte (BlackRock, BUIDL, SPAC)

Från “Securitize Ready” till vertikal dominans

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.

Strategi för vertikal integration

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:

• Överföringsagent: Genom att förvärva Pacific Stock Transfer blev Securitize en av de 10 bästa reglerade överföringsagenterna i USA. Detta steg gjorde det möjligt för dem att hantera kapitaliseringstabeller och företagsåtgärder för över 1,2 miljoner aktieägare, en skala som tidigare var oöverträffad i kryptosektorn.
• Handel (ATS): Företaget förvärvade Distributed Technology Markets (DTM) för att lansera Securitize Markets, sitt eget SEC-registrerade Alternative Trading System (ATS). Denna plattform möjliggör laglig sekundärhandel med tokeniserade tillgångar och löser likviditetsproblemet som plågade tidiga STO:er.
• Förmögenhetsförvaltning: År 2023 förvärvade företaget Onramp Invest, en teknikplattform som kopplar Registered Investment Advisors (RIAs) till alternativa tillgångar. Detta öppnade effektivt en distributionskanal till över 40 miljarder dollar i förvaltade tillgångar, vilket möjliggör för finansiella rådgivare att enkelt placera kryptovalutor och tokeniserade fonder i kundportföljer.

BlackRock-partnerskapet: BUIDL-fonden

The culmination of this infrastructure build-out is the historic partnership with BlackRock (BLK ), 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:

• Omedelbar avveckling: Investerare kan teckna och lösa in 24/7/365.
• Transparens: Ägande registreras på den offentliga blockkedjan.
• Användbarhet: Tokenen kan användas som säkerhet i det bredare kryptosystemet (t.ex. med prime brokers som 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.

Gå publikt: 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.

Ecosystemutveckling

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 (BTGO ), and supports issuance across multiple blockchains including Ethereum, Polygon, Avalanche, and Aptos.