Securitize Closes Cantor SPAC; SECZ Trades on NYSE July 2

Tokenization platform Securitize is wrapping its
business combination with Cantor Equity Partners II
(Nasdaq: CEPT), the Cantor Fitzgerald-sponsored SPAC.
The deal is expected to deliver approximately $400 million
in gross proceeds to the combined company, with a shareholder vote at CEPT
slated for June 29 and the merger expected to close on July 1. Common
stock of the combined entity is set to begin trading on the
New York Stock Exchange on July 2 under the ticker
SECZ.

The transaction puts a real-world-asset (RWA) tokenization leader on a U.S.
exchange just as the on-chain Treasury market crosses $14 billion in
outstanding value. It also gives Cantor Fitzgerald a publicly traded
flagship in digital-asset infrastructure to sit alongside its other markets
business lines.

Deal mechanics at a glance

Item	Detail
Target	Securitize, Inc. (tokenization platform; founded 2017; HQ Miami)
Sponsor	Cantor Equity Partners II (Nasdaq: CEPT), Cantor Fitzgerald-sponsored SPAC
Gross proceeds	Approximately $400 million (trust + concurrent PIPE)
Post-close ticker	NYSE: SECZ
CEPT shareholder vote	June 29, 2026 (record date May 11, 2026)
Expected close	July 1, 2026
First trading day	July 2, 2026
Securitize advisors	Citigroup Global Markets (financial); Davis Polk & Wardwell (legal)
CEPT advisors	Cantor Fitzgerald & Co. (financial); Hughes Hubbard & Reed (legal)
PIPE co-placement agents	Citi and Cantor Fitzgerald & Co.; Skadden, Arps as counsel

Source:
Securitize / CEPT closing announcement (PR Newswire, June 26, 2026)
and
S-4 effectiveness announcement (PR Newswire, June 5, 2026).

Combined-company management remains Securitize’s, led by co-founder and
chief executive Carlos Domingo with former SEC Trading and
Markets director Brett Redfearn
serving as president.
That regulatory pedigree matters because Securitize operates a registered
broker-dealer, an alternative trading system, and a transfer agent —
the three pieces that let it issue, trade, and service tokenized securities
under existing U.S. rules rather than around them.

Why this listing matters

Tokenization — representing securities on a public blockchain so they
can settle atomically, trade 24/7, and be programmatically managed —
moved from concept to product over the last two years, mostly through
tokenized U.S. Treasury funds. The category went from a rounding error in
2023 to roughly $14.8 billion in outstanding value across
the major issuers, according to the
rwa.xyz tokenized Treasury tracker.
Securitize sits at the center of it as the transfer agent and tokenization
platform behind BlackRock’s flagship fund.

The on-chain Treasury league table currently looks like this:

Source:
rwa.xyz tokenized Treasury market tracker, June 2026 snapshot.

Securitize’s own numbers

The company entered its public-market debut with the cleanest growth print
in its history. In its
first-quarter 2026 results,
Securitize reported revenue of $19.5 million, up
39% year over year, with average assets under management of
$3.2 billion and assets under administration of
$24.9 billion across 650 funds serviced. Net loss was $7.9
million ($0.88 per diluted share) and adjusted EBITDA was $0.8 million.
Tokenization revenue was roughly flat at $11.1 million while asset-servicing
revenue tripled to $8.3 million, a sign that the platform is monetizing the
custody and administration layer as on-chain assets grow.

The category itself expanded right alongside it: the broader market for
tokenized real-world assets grew from about $23 billion at year-end 2025 to
roughly $31 billion at the end of Q1 2026, a 35% step-up
in a single quarter, per the same release.

What CEPT shareholders get for their $400 million

The trust account plus the concurrent placement deliver approximately $400
million of gross capital, before adviser fees and SPAC-typical redemptions
at the CEPT vote. That cash sits behind a business with several
distinguishing features that ordinary fintech buyers cannot easily
replicate:

Regulatory stack. Securitize’s broker-dealer, ATS,
and transfer-agent registrations let it operate within existing U.S.
securities law — the same framework that governs traditional equity
issuance.
Anchor partnership with BlackRock. Securitize is the
transfer agent and tokenization platform for the BlackRock USD
Institutional Digital Liquidity Fund (BUIDL), the largest
asset-manager-branded tokenized Treasury fund.
Distribution beyond crypto-native venues. The company
has announced
a tokenization alliance with Computershare
to enable tokenized shares for U.S. issuers, and a
preferred-provider arrangement with Continental Stock Transfer & Trust.
Those tie-ups route through legacy transfer agents instead of competing
with them — the same go-to-market that earlier digital-asset firms
struggled to land.

How this fits into the SPAC and tokenization picture

Two industry threads converge here. First, Cantor Fitzgerald has used SPACs
methodically to seed digital-asset infrastructure on public markets, and
CEPT is one of those vehicles. Second, regulated tokenization is becoming a
mainstream institutional product line, not a crypto experiment: traditional
Treasury issuers, transfer agents, and large asset managers are the
counterparties driving on-chain growth. A public Securitize lets pension
funds and other allocators express both themes through a single equity.

What it does not tell you is how on-chain assets will perform in a
yield drawdown. The 7-day average yield on tokenized Treasury funds has
recently slipped to about 3.36% per the same rwa.xyz tracker, in line with
short Treasury rates broadly, and net inflows to the category have softened
from earlier-year peaks. If demand for on-chain dollars cools, Securitize’s
asset-servicing line is the natural shock absorber — but it is also
the line that has been growing fastest.

What to watch from here

The June 29 CEPT vote. Approval is the prerequisite,
and the redemption percentage will set the floor for actual cash delivered
to the combined company.
SECZ’s first prints on July 2. Trading volume,
the spread to the SPAC-implied price, and the first few weeks’ float
behavior will tell you how much real institutional demand the listing
attracted versus pure redemption arbitrage.
BUIDL and BUIDL-adjacent flows. The fastest leading
indicator for SECZ revenue is whether the BlackRock fund (and its newer
peers serviced on the platform) keep adding AUM through Q3.
NYSE’s tokenization roadmap. NYSE named Securitize
its design partner for tokenized securities markets in early 2026. Any
public roadmap announcement from NYSE on tokenized listings would
materially shift the addressable market.

Sources

Disclosure: This article was produced with AI assistance and reviewed before publication. It is for informational purposes only and is not investment advice.