The call follows SEC effectiveness for Securitize’s merger with Cantor Equity Partners II, with a June 29 shareholder vote and Benchmark tying its valuation to 2027 revenue of $178 million.
Benchmark Equity Research maintained its Buy rating on tokenization infrastructure firm Securitize as the company moves toward a planned NYSE listing, assigning a $16 price target based on 2027 revenue projections of $178 million. The view came after the SEC (U.S. securities regulator) declared effective the registration statement for Securitize’s merger with Cantor Equity Partners II, clearing a key step before a shareholder vote set for June 29. If shareholders approve the deal and customary closing conditions are met, the combined company is expected to trade on the NYSE under the ticker SECZ. Benchmark analyst Mark Palmer said the listing could come within days of the vote and argued that the more important long-term question for investors is which firms will control the infrastructure rails behind real-world asset tokenization. He said Securitize stands out because of a cross-jurisdictional regulatory setup spanning broker-dealer, alternative trading system (regulated venue for trading securities), transfer agent, adviser, fund administration, and EU DLT Pilot Regime licensing. Benchmark also pointed to commercial traction, including a deepening relationship with BlackRock around the BUIDL fund, which the note said has grown to about $2.46 billion in assets since its March 2024 launch, and support for BlackRock’s proposed Daily Reinvestment Stablecoin Reserve Vehicle. The firm also cited Securitize’s partnership with Computershare to help U.S.-listed clients issue tokenized equity securities, and said tokenized assets are increasingly being used as programmable collateral rather than simple onchain wrappers, highlighting VanEck’s Securitize-issued Treasury fund going live on the DeFi (blockchain-based finance) lending platform Euler in late May. As of March 31, Securitize held $3.4 billion in tokenized assets under management within a tokenized asset market that nearly tripled over the past year to surpass $30 billion, though Benchmark said regulatory uncertainty, adoption speed and reliance on partners remain risks to its bullish thesis.