Securitize Shares Rise 10% Following Q3 Growth and Asset-Backed Finance Expansion
Tokenization platform Securitize reported strong third-quarter growth, with tokenized assets reaching $4.8 billion (up 9% year-over-year) and revenue increasing 28% to $11.5 million. Despite the top-line growth, the company reported an adjusted EBITDA loss of $2 million due to a 183% surge in operating expenses related to its recent public debut and increased compliance and cybersecurity investments. To diversify its revenue streams, Securitize announced the acquisition of River One, an institutional asset-backed financing platform. The move aims to bridge stablecoin capital with traditional lending markets, targeting the $9 trillion asset-backed finance sector. Additionally, the company's board authorized a $50 million share buyback program as it competes with major players like BlackRock and Franklin Templeton in the evolving tokenization landscape.
Topics: Acquisition Asset-Backed Finance Crypto Infrastructure Quarterly Earnings Tokenization
Part of the story Securitize Shares Rise 10% Following Q3 Growth and Asset-Backed Finance Expansion (2 articles)