Tokenization platform Securitize gains 10% postmarket on Q3 results, move into asset-backed finance

Securitize shares rose about 10% in after-hours trading after the tokenization platform reported higher third-quarter revenue and transaction activity. It also announced plans to expand into asset-backed finance through an acquisition, as interest in tokenized assets grows and major financial firms enter the market.

The company said tokenized assets on its platform reached $4.8 billion, up 9% year on year, while transaction volume increased 20% to $4.3 billion and revenue rose 28% to $11.5 million. Adjusted EBITDA was a loss of $2 million, compared with a $3.6 million profit a year earlier, although this improved from a $5.5 million loss in the second quarter; operating costs and expenses rose 183%. Securitize also authorised a $50 million share buyback and agreed to acquire River One, which is developing technology linking stablecoin capital with traditional lending markets, in a deal with undisclosed terms.