Securitize on May 20, 2026 reported first-quarter revenue of $19.5 million — a record for the company and a 39% increase year-over-year — as it advances a SPAC merger with Cantor Equity Partners II (Nasdaq: CEPT) that would make it one of the first publicly listed companies focused exclusively on tokenized securities. CEPT shares rose 5% on the announcement.
The quarter's headline growth was driven almost entirely by the asset servicing segment, which brought in $8.3 million, up 201% year-over-year. Securitize attributed the jump to Securitize Fund Services, which administered 650 active funds as of March 31. Tokenization revenue, the company's original business line, came in at $11.1 million — roughly flat versus the prior-year period — reflecting a maturing fee structure on its flagship product even as volumes grow. Securitize reported $3.4 billion in tokenized assets under management, $24.9 billion in total assets under administration, and $1.9 billion in aggregated transaction volume for the quarter.
Profitability remains elusive. Net loss widened to $7.9 million ($0.88 per diluted share), and adjusted EBITDA fell to $800,000 from $4.1 million a year earlier. CFO Francisco Flores said the company continues to invest in headcount and infrastructure as it prepares for the demands of operating as a public company. The earnings profile — revenue growing fast, losses widening — is characteristic of fintech infrastructure platforms scaling ahead of a liquidity event rather than optimizing for near-term margins.
The SPAC path matters beyond Securitize itself. A successful Nasdaq listing via the Cantor Equity Partners II vehicle would mark the first time a tokenized-securities platform has accessed public markets at scale — a credibility signal the broader real-world asset (RWA) tokenization sector has been waiting for. Institutional adoption of on-chain securities has accelerated sharply over the past 18 months, with Securitize serving as the rails for BlackRock's BUIDL fund and other blue-chip clients.
The Cantor connection also extends beyond this deal. Cantor Fitzgerald, the SPAC sponsor's parent, is simultaneously advising on Copper's reported $500 million sale process — a separate mandate reported today — underscoring how deeply the firm has embedded itself across crypto infrastructure M&A and capital markets activity in 2026.
Securitize did not provide revenue guidance for the remainder of 2026. The SPAC merger timeline was not updated in today's release, though the company reiterated the transaction is proceeding.
Financial figures sourced from the Securitize Q1 2026 earnings press release (PR Newswire, May 20, 2026).