Securitize Shares Surge 22% Following Acquisition Announcement and Strong Q3 Growth
Securitize (SECZ) shares jumped 22% on Tuesday following the announcement that the tokenization platform will acquire River One. The acquisition is intended to facilitate Securitize's entry into the $6 trillion asset-backed finance market by bridging the global stablecoin market with traditional lending industries. The company reported strong third-quarter performance, with revenue increasing 13% year-over-year to $18.6 million and average tokenized assets on its platform rising 39% to $5 billion. This growth is driven by partnerships with major institutional asset managers including BlackRock, Ark Invest, and Neuberger Berman. Despite the positive momentum and expansion into new markets, Securitize has not yet reached profitability, reporting an adjusted EBITDA loss of $2 million for the quarter. The River One deal is expected to close in the fourth quarter.
Topics: Asset Management Blockchain Earnings Report M&A Tokenization