Securitize posts record Q1 revenue; tokenized AUM $3.4B

Securitize reported record first-quarter revenue of $19.48 million for the three months ended March 31, 2026, driven by a 201% increase in asset-servicing fees as institutional demand for tokenized real-world assets grew.

Total revenue rose 39% from a year earlier. Asset-servicing revenue climbed to $8.34 million from $2.77 million in Q1 2025. Tokenization revenue was $11.14 million, down 1% year over year. The company attributed the revenue mix to expanded assets under management and recurring fees from tokenized funds, including BlackRock’s BUIDL product.

Net loss widened to $7.93 million, or $0.88 per diluted share, compared with a $5.12 million loss in the year-ago quarter. Securitize cited higher costs tied to preparing for a public listing, interest expenses and fair-value adjustments on derivative liabilities. Loss from operations narrowed to $2.40 million from $3.93 million in Q1 2025. Adjusted EBITDA fell to $0.83 million from $4.1 million a year earlier.

Tokenized assets under management stood at $3.4 billion at quarter-end, with an average of $3.2 billion during the period. Aggregated transaction volume reached $1.9 billion. The company reported $24.9 billion in assets under administration across 650 active funds. The broader tokenized real-world asset market expanded roughly 35% in the quarter to about $31 billion.

Institutional partnerships and product integrations were listed among the drivers of growth. The New York Stock Exchange named Securitize its design partner and its first digital transfer agent for tokenized securities, and Securitize Markets was appointed the first broker-dealer to connect to the NYSE Digital alternative trading system. Securitize announced an integration with Uniswap Labs to enable trading of BlackRock’s BUIDL shares through UniswapX technology.

During the quarter Securitize was selected to tokenize loan interests tied to the Trump International Hotel and Resort in the Maldives. After the quarter closed the company announced a partnership with Computershare to handle issuer-sponsored tokenized securities. Securitize also received FINRA approvals for custody and atomic settlement operations.

Carlos Domingo, Securitize’s chief executive officer, called tokenization “the most consequential upgrade to U.S. capital-market infrastructure in a generation.” Francisco Flores, chief financial officer, noted the company delivered positive operating leverage despite higher headcount and public-listing costs.

Cash and equivalents declined to $14.46 million at March 31 from $24.87 million at Dec. 31, 2025, and total assets decreased to $135.09 million from $169.78 million. Securitize is pursuing a business combination with Cantor Equity Partners II, a SPAC with a $1.25 billion pre-money valuation announced in October 2025. The transaction includes a $225 million PIPE and is expected to close in the first half of 2026; after closing Securitize plans to list on Nasdaq under the ticker SECZ. No earnings call was held for the quarter because of the pending transaction.