Tokenization firm Securitize (SECZ) has agreed to acquire River One, a New York-based institutional financing firm, as it moves to expand into the $6 trillion asset-backed finance market.

The deal, announced Monday alongside Securitize's third-quarter earnings, will add warehouse financing capabilities to the company's business. Warehouse financing allows firms to borrow against pools of loans or other assets, providing capital before those assets are sold or refinanced. The private asset-backed finance market was estimated at $6.1 trillion in 2024 and is projected to exceed $9 trillion by 2029, according to a report by global investment firm KKR. The addition would extend Securitize's role beyond issuing and administering tokenized securities into financing activity that can support assets before a sale or refinancing.

River One was incubated by crypto investment firm Framework Ventures and also received backing from blockchain lending platform Maple Finance (SYRUP, quoted at $0.1346). Financial terms were not disclosed, and the transaction is expected to close in the fourth quarter.

Securitize has emerged as a key infrastructure provider in the rapidly growing tokenization market, helping asset managers issue traditional securities on blockchain rails. Founded in 2017 and headquartered in Miami, Florida, the company provides issuance, transfer agency and fund administration services for tokenized securities, with clients including BlackRock, Apollo, KKR, Hamilton Lane and VanEck.

The acquisition follows Securitize's debut as a public company on the New York Stock Exchange in July. At the time, CEO Carlos Domingo told CoinDesk that the firm planned to deploy its roughly $400 million war chest on acquisitions, targeting businesses that would expand its institutional tokenization platform rather than buying competitors. River One marks a step toward that strategy, adding lending and financing capabilities to Securitize's existing operations. The expected fourth-quarter closing will be the next point at which the companies' plans and the deal's undisclosed financial terms can be evaluated.

"Credit is one of the most exciting emerging asset classes for blockchain-based financial markets, and acquiring River One represents an important step in expanding our business into this space," Domingo said in a statement.

Alongside the acquisition announcement, Securitize reported quarterly revenue of $18.6 million, up 13% from a year earlier, while recording a net loss of $66.3 million. Approximately $60 million of that loss stemmed from largely non-cash expenses and accounting charges, mainly tied to its public listing and business combination, the company said.

Average tokenized assets on Securitize's platform reached $5 billion, a 39% year-over-year increase, while transaction volume climbed 20% to $4.3 billion.

The company also announced a $50 million share buyback program running through December 2027. Securitize ended September with about $300 million in cash and no debt.