Securitize has agreed to acquire River One, a New York-based institutional financing firm, to move into asset-backed finance, CoinDesk reported. The deal was announced Monday alongside the tokenization company’s third-quarter results. Financial terms were not disclosed, and closing is expected in the fourth quarter.
River One would add warehouse financing, which lets firms borrow against pools of loans or other assets before selling or refinancing them. CoinDesk cited a KKR estimate that the private asset-backed finance market was $6.1 trillion in 2024 and could exceed $9 trillion by 2029. Framework Ventures incubated River One, and Maple Finance backed it. CEO Carlos Domingo said credit is “one of the most exciting emerging asset classes for blockchain-based financial markets.”
Securitize, which listed on the NYSE in July under the ticker SECZ, reported third-quarter revenue up 13% from a year earlier to $18.6 million and a net loss of $66.3 million, of which about $60 million came from mostly non-cash charges tied to its public listing and business combination. Average tokenized assets on its platform rose 39% to $5 billion, and transaction volume rose 20% to $4.3 billion.
The company announced a $50 million share buyback running through December 2027 and ended September with about $300 million in cash and no debt, according to CoinDesk. Shares rose about 10% after hours but remain roughly 50% below their late-September level.
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