Securitize reported $14.4 million in second-quarter revenue on August 12, as tokenized assets under management climbed to $4.3 billion. The digital-asset securities firm posted mixed financial results amid significant expansion of its tokenized-equity infrastructure and product offerings, underscoring the tension between rapid growth in real-world asset (RWA) tokenization and the near-term profitability challenges facing companies building in the sector.

Mixed Second-Quarter Financial Performance

Average tokenized AUM rose 16% year over year, while total AUM increased 9%. Transaction volume surged 147% to $5.3 billion during the quarter. However, revenue declined 5%, and the company recorded a $21.7 million net loss. Adjusted EBITDA came in at a $5.5 million loss, compared with $1.8 million in positive EBITDA during the same period last year. Securitize held approximately $350 million in cash.

CEO Carlos Domingo noted that platform AUM grew by roughly $1 billion during the quarter and $1.5 billion across the first half of the year. Securitize Fund Services serviced 663 active funds, with assets under administration totaling $24.3 billion — down approximately 20%.

Tokenized-Equity Infrastructure Expansion

Ahead of its July 2 listing on the New York Stock Exchange, Domingo said the company broadened its tokenized-equity infrastructure. Securitize partnered with Computershare and Continental to support issuer-sponsored tokenized shares, building on its NYSE agreement enabling 24/7 tokenized equity and ETF trading. The firm also announced collaborations with Jump Trading and Jupiter focused on regulated public-equity trading.

Securitize Markets received FINRA approval to custody tokenized securities, enabling atomic settlement between tokenized securities and stablecoins. The approval positions Securitize among a limited set of firms authorized to handle both custody and settlement of blockchain-based securities under U.S. regulation. The company also partnered with Cantor Fitzgerald to facilitate onchain IPOs and follow-on offerings.

Atlas Capital selected Securitize to power USAFi under Dubai's VARA regulatory framework. The product leverages the Atlas America Fund and marks economist Nouriel Roubini's first blockchain-based project. Dubai's VARA regime has attracted a growing roster of digital-asset firms seeking a structured regulatory pathway in the Middle East.

Product and Leadership Growth

Securitize expanded the collateral use of BlackRock's BUIDL fund through partnerships with OKX and Standard Chartered. BlackRock's BUIDL, launched on Ethereum in March 2024, has become one of the largest tokenized treasury funds and a benchmark product for institutional adoption of onchain assets. The company extended its Tokenized AAA CLO Fund to Solana, followed by Ethena Labs' $250 million allocation. TRON was added to Securitize's multichain infrastructure.

On the leadership front, former SEC official Brett Redfearn was appointed president and director, while Sunil Sabharwal joined the board of directors.

Securitize placed its own shares onchain on July 2, enabling U.S. trading with USDC. Jump Trading served as market maker under the company's stated structure.

CFO Francisco Flores said achieving positive adjusted EBITDA remains a near-term objective, noting the company carries no debt on its balance sheet. The company's $350 million cash position and debt-free balance sheet provide runway as it invests in infrastructure buildout across tokenized equity, multichain expansion, and regulated custody — areas where incumbent financial institutions and blockchain-native firms are increasingly competing to define standards for the next phase of asset tokenization.