Tokenization platform Securitize said its revenues jumped more than 840% through September 2025 in a new filing as it moves forward with plans to go public via a merger with a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald.
In a registration statement filed Wednesday with the U.S. Securities and Exchange Commission, Securitize reported total revenues of $55.6 million for the nine months ending September 2025—an 841% increase from $5.9 million for the same period in 2024. For all of 2024, the company recorded $18.8 million in revenue, up 129% from $8.2 million in 2023.
Looking ahead, Securitize projects 2026 revenue of $110 million and adjusted EBITDA of $32 million.
The filing follows Securitize’s October announcement that it would merge with Cantor Equity Partners II, a SPAC backed by Cantor Fitzgerald. The deal would value the company at $1.24 billion in pre-transaction enterprise value and include a $225 million Private Investment in Public Equity (PIPE) financing. The merger is expected to close in the first half of this year, pending shareholder approval and SEC clearance.
“Securitize is well-positioned to capitalize on the potential tokenization market due to its products, connectivity to the crypto ecosystem, and ability to attract customers, partners, and investors,” the filing said.
Securitize manages $4 billion in assets and counts blue-chip institutions such as BlackRock, Apollo, Hamilton Lane, and VanEck among its partners. Its revenues have surged amid the boom in real-world asset tokenization over the past year.
Tokenized assets hit record high
The on-chain value of tokenized assets has climbed 310% over the past 12 months, according to RWA.xyz, reaching an all-time high of $24.2 billion (excluding stablecoins). Roughly 40% of that total is in tokenized U.S. Treasuries, 20% in tokenized commodities, 11% in tokenized private credit, and the remainder in tokenized alternative funds, corporate bonds, non-U.S. government debt, and private and public equity.
Ethereum continues to lead the industry, capturing 65% of the asset tokenization market when layer-2 networks are included.
