On July 2, Securitize, a crypto firm specializing in asset tokenization, went public and saw its stock rise by 3% on its debut. The company raised $400 million following its merger with a special-purpose acquisition vehicle. On July 4, Securitize tokenized $295 million in stock on the Solana blockchain at the time of its IPO. However, on July 7, BlackRock-backed Securitize saw its share price drop by 40% following its public market debut.
BlackRock-backed digital asset firm Securitize saw its shares slide 40% immediately after its public listing via a SPAC merger, highlighting valuation struggles.
Read the full storySecuritize bridges traditional equity and DeFi by tokenizing $295 million in stock on Solana's infrastructure during its IPO phase.
The asset tokenization firm raised $400 million through a SPAC merger, seeing its shares climb 3% during its market debut on Thursday.