Tokenization infrastructure platform Securitize announced its Q1 2026 financial results on May 21, 2026. Quarterly total revenue reached $19.48 million, up 39% year over year. Securitize is pursuing a listing process via a merger with Cantor Equity Partners II’s SPAC, with a valuation of $125 million, expected to be completed in the first half of 2026.
Q1 2026 Financial Data: Full Breakdown of Revenue Composition and Cost Items
Securitize’s Q1 2026 financial data is confirmed as follows:
Asset services revenue: $8.34 million (Q1 2025: $2.77 million, +201% year over year). This is the main driver of revenue growth and is directly tied to the continued expansion of AUM managed by tokenized funds (including BlackRock BUIDL). Tokenization revenue: $11.14 million, down 1% year over year, reflecting a steadier state in the broader digital asset market. Total revenue: $19.48 million, up 39% year over year.
Net loss: $7.93 million (diluted loss per share of $0.88), widening from $5.12 million net loss in Q1 2025. The company attributes this to listing-prep costs, interest expenses, and fair value adjustments to derivative liabilities. Operating loss: $2.40 million, narrower than $3.93 million in Q1 2025. Adjusted EBITDA: $0.83 million, below $4.10 million in Q1 2025.
Cash and cash equivalents: $14.46 million (as of December 31, 2025: $24.87 million). Total assets: $135.09 million (as of December 31, 2025: $169.78 million).
Tokenization Business Scale: BUIDL, NYSE Partnership, and Post-Quarterly Confirmed Developments
As of March 31, 2026, Securitize’s tokenized asset management AUM reached $3.4 billion, with average quarterly AUM of $3.2 billion. Cumulative transaction volume reached $1.9 billion. Securitize Fund Services’ total assets under management across 650 active funds amounted to $24.9 billion. Securitize stated that it still maintains a leading position in the tokenization platform when measured by AUM. BlackRock’s BUIDL fund AUM has increased to roughly $2.3 billion, making it one of the largest tokenized USD funds globally.
The three key business developments confirmed during the quarter are as follows: first, the NYSE appointed Securitize as the first digital transfer agent for tokenized securities; Securitize Markets became the first broker-dealer to connect to the NYSE digital ATS. Second, Uniswap Labs and Securitize announced an integration plan, with BlackRock BUIDL shares to be made tradable via UniswapX technology. Third, Securitize was selected to tokenize interest on loans related to the Trump International Hotel and Resort in the Maldives, expanding its footprint in real-estate tokenization.
Two important post-quarter developments already confirmed: Computershare (the world’s largest transfer agent) confirmed that it will be a partner for issuer-led tokenized securities issued by Securitize; and Securitize received FINRA approval for custody and atomic settlement business.
Frequently Asked Questions
What are the specific drivers behind Securitize’s 201% year-over-year increase in asset services fees?
The 201% growth in asset services fees directly corresponds to the continued increase in AUM of tokenized funds, with BlackRock’s BUIDL fund (AUM now at about $2.3 billion) being the primary source of contribution. These fees are calculated based on AUM and collected on a recurring basis in the form of subscriptions or annual fees. They scale linearly as AUM grows, rather than being influenced by fluctuations in a single transaction volume, so they are relatively stable and predictable.
What is the business significance to Securitize of being qualified as the NYSE’s first digital transfer agent?
Traditional transfer agents are responsible for tracking securities holders, processing dividend payments, and handling share transfers—core components of capital market infrastructure. The NYSE appointing Securitize as its first digital transfer agent for tokenized securities means Securitize’s technical infrastructure has been recognized by one of the world’s largest stock exchanges as a compliant solution aligned with its tokenized framework. At the same time, it also gives Securitize Markets the qualification as the first broker-dealer with access to the NYSE digital ATS.
What confirmed terms apply to the SPAC merger between Securitize and Cantor Equity Partners II?
This SPAC merger was announced in October 2025. The main confirmed terms are as follows: the merger target is Cantor Equity Partners II (Nasdaq: CEPT); pre-investment valuation is $125 million; includes $225 million in private equity investment (PIPE); expected to complete the merger in the first half of 2026; after completion, it will list on Nasdaq under the SECZ ticker. Because the merger is still in progress, Securitize has not held an Q1 earnings call. Securitize CEO Carlos Domingo said: “Tokenization is expected to become the most important upgrade to U.S. capital market infrastructure in a generation.”
