Cantor and Securitize team up to put IPOs on-chain, because Wall Street's middleman finally found a longer table 🧾

Securitize and Cantor Fitzgerald announced Wednesday a partnership to develop a framework for blockchain-based initial public offerings and follow-on equity offerings by already-listed companies, marking another step in bringing tokenized securities into mainstream U.S. capital markets. The framework is designed to support primary issuances in which companies raise capital through tokenized securities while operating within the existing regulatory structure for public offerings.

Under the agreement, Securitize will provide the tokenization infrastructure used to issue, distribute and service the digital securities, while its SEC-registered broker-dealer affiliate, Securitize Markets, will participate in the offering and settlement process. Cantor will contribute its equity capital markets and trading capabilities typically associated with public offerings. Securitize, which provides blockchain infrastructure for tokenized real-world assets, itself went public through a merger with a special purpose acquisition company backed by Cantor Fitzgerald.

The collaboration lands as tokenized securities expand across traditional finance. While tokenization has largely focused on private credit and U.S. Treasurys, companies are increasingly exploring blockchain-based infrastructure for public equities. The market for tokenized stocks has outpaced much of the broader digital asset space over the past year, with the value of tokenized stocks onchain up 16% over the past 30 days to nearly $1.9 billion, according to RWA.xyz.

Established financial institutions are moving deeper into the sector. As The Wall Street Journal reported Wednesday, the Depository Trust & Clearing Corp. (DTCC) plans to pilot the tokenization of stocks and U.S. Treasurys with nearly 40 financial companies, including JPMorgan and Goldman Sachs. The trial follows DTCC's May announcement that it aims to roll out tokenized trading services by October.

Assets slated for tokenization under the DTCC pilot include shares of Microsoft (MSFT) and stablecoin issuer Circle (CRCL), as well as exchange-traded funds tracking the S&P 500 index, the Nasdaq 100 index and short-term U.S. Treasury bonds. Earlier this month, U.S. and U.K. Treasury officials said they would align transatlantic rules on tokenization and stablecoins, another signal that tokenized market infrastructure is moving from pilot to production across major jurisdictions.