Tokenization platform Securitize said its revenues are up over 840% to September 2025 in a new filing to go public that moves ahead with its plan to merge with a blank-check company backed by Cantor Fitzgerald.
Securitize Holdings said in a public registration statement filed with the US Securities and Exchange Commission on Wednesday that its total revenues for the nine months ended September 2025 reached $55.6 million, an 841% increase from the same period in 2024.
Securitize reported total revenue of $18.8 million for all of 2024, a 129% increase from the $8.2 million it made in 2023.
The company projected 2026 revenue of $110 million and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $32 million.
The filing moves forward with its October announcement that it would merge with Cantor Equity Partners II, a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald.
Traditional finance firms are increasingly exploring tokenization, having been given the confidence to try the technology under a crypto-friendly SEC.
Securitize is valued at $1.24 billion
Securitize has said the deal would value the company at $1.24 billion in pre-transaction enterprise value and would include a $225 million Private Investment in Public Equity (PIPE), a financing method in which institutional investors buy shares in a private placement.
The deal, expected to close in the first half of this year, still requires shareholder approval and SEC clearance before it is completed.
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“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,” it said in the filing.
The tokenization platform has $4 billion in assets under management and blue-chip institutional partnerships, including BlackRock, Apollo, Hamilton Lane and VanEck, and has seen revenues soar on the real-world asset tokenization boom over the past year.
Tokenized value on-chain surges
The on-chain value of tokenized assets has surged 310% over the past 12 months, according to RWA.xyz.
It is currently at an all-time high of $24.2 billion, excluding stablecoins, with 40% of that total in tokenized US Treasuries, 20% in tokenized commodities, 11% in tokenized private credit, and the rest in tokenized alternative funds, corporate bonds, non-US government debt and private and public equity.
Ethereum is the industry-leading blockchain for asset tokenization, with a 65% market share when layer-2 networks are included.
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