From CNBC · Tanaya Macheel · · 1m 20s
Securitize jumps 10% on Q3 growth and asset-backed finance push
Tokenization platform Securitize reports strong quarterly results and acquires River One to expand beyond digital securities into a nine trillion dollar market.
In brief
Tokenization platform Securitize reports strong quarterly results and acquires River One to expand beyond digital securities into a nine trillion dollar market. Securitize stock rose ten percent after reporting twenty eight percent revenue growth and acquiring asset-backed finance company River One to diversify beyond…
Securitize stock surges on quarterly results
Miami-based tokenization platform Securitize climbed about ten percent postmarket after reporting third quarter growth and announcing expansion into asset-backed finance through acquisition.
Strong growth across key metrics
Tokenized assets on Securitize's platform grew nine percent to four point eight billion dollars.Aggregate transaction volume rose twenty percent to four point three billion dollars.Revenue reached eleven point five million, up twenty eight percent year-on-year.
Profitability pressured by public company costs
Securitize reported adjusted EBITDA loss of two million dollars, compared with positive adjusted EBITDA of three point six million a year ago.
Securitize acquires River One, enters new market
Securitize announced acquisition of River One, an institutional asset-backed financing platform. The deal marks expansion into the nine trillion dollar asset-backed finance market using stablecoins to finance real world assets and tokenize credit products.
Diversifying beyond tokenized securities
CEO Carlos Domingo told CNBC the acquisition adds another piece to Securitize's emerging tokenization space as competition grows from BlackRock, Franklin Templeton, DTCC and Broadridge entering the industry.
“this adds another piece of the puzzle in the emerging tokenization space for us to capture revenue growth”
At a glance
Securitize stock rose ten percent after reporting twenty eight percent revenue growth and acquiring asset-backed finance company River One to diversify beyond tokenized securities.
