RESOLVING THE LEDGER
This is one outlet's own report from CoinDesk — the article as it was filed. Other outlets are covering the same event; open the full story to compare every source side by side.
See the full story · 1 sources
The company, best known for issuing and managing BlackRock’s BUIDL tokenized money-market fund, reported revenue of $14.4 million, down 5% from a year earlier and missing analyst estimates of $20.6 million.
Securitize posted a $2.37 per-share loss, compared with an expected loss of just $0.15 per share. Its net loss totaled $21.7 million, while adjusted EBITDA swung to a $5.5 million loss from a $1.8 million gain a year ago.
Wall Street has grown increasingly excited about tokenization, the effort to bring funds, equities and other financial assets onto blockchain rails. Securitize sits at the center of that push, but the growing interest has yet to materialize as sustained revenue growth.
CEO Carlos Domingo called the quarter “softer” when reporting earnings on Wednesday, while pointing to a stronger start to the year. First-half revenue remained 16% higher year-over-year, including a record $19.5 million in the first quarter.
Activity on Securitize’s platform grew despite the weaker financial results. Average tokenized assets under management reached a record $4.3 billion, up 16% from a year earlier, while transaction volume surged 147% to $5.3 billion. The company’s fund-services arm oversaw 663 active funds and $24.3 billion in assets under administration.
The company provides the infrastructure for asset managers to issue and manage traditional financial products such as funds as blockchain-based tokens. Its clients include BlackRock and KKR, putting the company near the center of Wall Street’s push to bring securities on-chain. BUIDL, launched with BlackRock in 2024, has grown into one of the largest tokenized Treasury and money-market products.
It is also working with the New York Stock Exchange on infrastructure for trading tokenized securities and has partnered with market-leading transfer agent Computershare to enable tokenized shares for U.S. issuers.
Wednesday’s report was Securitize’s first quarterly update as a publicly traded company after it merged with a Cantor-backed special purpose acquisition company in July.
1 Prediction markets should dial back faulty filings for incentives to boost trading: CFTC 34 min ago 2 Morgan Stanley's infrastructure partner Zerohash rebuffed in pitch to be U.S. trust bank 1 hr ago 3 Goldman Sachs leaps into bitcoin income ETFs with $2.25 billion NEOS buyout 6 hrs ago 4 Wintermute plans $1 billion AI push beyond crypto: Bloomberg 7 hrs ago 5 Kalshi taps DoubleZero for Wall Street-style high-speed data feed 7 hrs ago 6 Miden bets on privacy stablecoins with introduction of USDCx 8 hrs ago 7 Crypto Long & Short: When capital can't move fast enough, markets pay the price 9 hrs ago 8 Smart contract blockchain Solana nearly froze Wednesday, Marinade Finance says 10 hrs ago 9 Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin 10 hrs ago 10 America doesn’t need a second-class payments system 10 hrs ago Latest Research Building the Zcash Machine: Tachyon and Quantum Readiness Building the Zcash Machine: Tachyon and Quantum Readiness Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
AIPROPX is an independent multi-source news index — we track, compare, and connect coverage from across the web into one place you won't find anywhere else.