Svmuu News: Carlos Domingo, CEO of Securitize, said the company will use approximately $400 million in cash reserves to pursue mergers and acquisitions after completing its NYSE listing, with the aim of expanding its institutional-grade asset tokenization business. After completing its listing through a merger with a SPAC affiliated with Cantor Fitzgerald, the company retained approximately 70% of the trust funds, providing it with sufficient cash reserves to support the next phase of expansion.
Carlos Domingo noted that M&A targets will primarily focus on areas complementary to the tokenization business, rather than direct competitors, to build a “full-stack tokenization service platform” for institutional clients.
Securitize currently serves institutions including BlackRock, KKR, Apollo, and VanEck, and has issued approximately $4.4 billion in tokenized assets to date, including products such as BlackRock’s BUIDL fund. (CoinDesk)