Securitize, a leading tokenization platform behind notable blockchain-based investment products like BlackRock’s tokenized US Treasury fund, is reportedly in discussions with Cantor Fitzgerald to go public through a Special Purpose Acquisition Company (SPAC).
Bloomberg reported on Friday, citing anonymous sources, that Securitize is negotiating a merger with Cantor Equity Partners II Inc., a blank-check firm associated with Cantor Fitzgerald. The potential deal could value Securitize at over $1 billion, the report indicated.
Securitize has not yet responded to Cointelegraph’s request for comment.
A SPAC serves as a publicly traded shell entity that generates capital to acquire a private company. Following the merger, the private entity transitions to public status without undertaking the conventional and typically lengthy initial public offering (IPO) process.
In recent years, several crypto-centric companies have opted for this approach, including Bakkt through VPC Impact Acquisition Holdings and Core Scientific using Power & Digital Infrastructure Acquisition Corp., the latter of which was subsequently acquired by CoreWeave for $9 billion.
Circle, the issuer of the USDC (USDC) stablecoin, announced a SPAC merger with Concord Acquisition Corp in 2021, although that deal was eventually called off. Circle went public earlier this year with a remarkable debut.
The negotiations occur amidst a resurgence of public listings in the digital-asset space. In 2025, firms such as Circle, Figure Technology, Gemini, and Bullish have all gone public, reflecting renewed institutional interest in crypto-related equities.
Securitize has also been active in fundraising; in May 2024, the firm secured $47 million in a funding round led by BlackRock, with additional backing from Paxos, Aptos Labs, and Circle.
Related: Wall Street’s next crypto focus may be IPO-ready crypto firms, rather than altcoins
SPAC talks highlight growing institutional interest in tokenized RWAs
The potential SPAC involving one of the tokenization sector’s key players emphasizes the growing interest in on-chain finance.
As per industry data from RWA.xyz, over $33 billion in real-world assets (RWAs) have been tokenized on both public and private blockchains, with private credit and US Treasury bonds leading the early adoption trend.
Simultaneously, several major financial institutions are increasing their involvement in tokenization. BNY Mellon, one of the largest custodians globally, recently announced it is exploring tokenized deposits to facilitate instant fund transfers for clients.
Earlier this year, the bank partnered with Goldman Sachs to provide tokenized money market funds that utilize blockchain for ownership tracking and settlement.
Meanwhile, S&P Global revealed earlier this week that it is launching the Digital Markets 50 Index, intended to track the performance of 15 cryptocurrencies and 35 blockchain-linked equities. This index is being created in collaboration with tokenization firm Dinari, which plans to offer a tokenized version of the index later this year.
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