Securitize expands tokenisation business with River One deal
By Jon CuthbertKey points
- Securitize agreed to acquire River One and authorised a share repurchase programme worth up to $50 million.
- Third-quarter revenue reached $18.6 million, while average tokenised assets climbed 39% year-on-year to $5 billion.
- The company ended September with approximately $300 million in cash and no debt, supporting further expansion.
Securitize Corp (NYSE:SECZ) has agreed to acquire River One and authorised up to $50 million in share buybacks.
The company also recorded $5 billion in average tokenised assets during the third quarter, up 39% year-on-year.
“Our agreement to acquire River One takes us into asset-backed finance,” according to Chairman and CEO Carlos Domingo.
The River One acquisition will add warehouse financing capabilities and expand Securitize’s reach into institutional asset-backed finance.
“Adjusted EBITDA was a loss of $2.0 million, a 64% improvement from the prior quarter,” according to Chief Financial Officer Francisco Flores.
Securitize generated $18.6 million in third-quarter revenue, up 13% year-on-year, marking its second-highest quarterly total.
The company also launched Securitize Stocks on Solana, offering eligible investors tokenised US equities backed one-for-one by underlying shares.
Securitize ended September with approximately $300 million in cash and no debt, while its quarterly net loss reached $66.3 million.
Following the announcement, Securitize shares were up 0.14% at $6.97.
