Securitize reported a sharp increase in activity across its tokenization platform during the second quarter of 2026, with aggregate transaction volume surging 147% year-over-year to $5.3 billion even as quarterly revenue declined 5% to $14.4 million.
The divergence highlights the rapid expansion of activity occurring across Securitize’s infrastructure while monetization remains comparatively volatile. Securitize defines aggregate transaction volume as investments, redemptions, dividends and cross-chain movements involving assets issued through its platform.
Average tokenized assets under management reached a record $4.3 billion during Q2, up 16% year-over-year, while total tokenized AUM at June 30 was also $4.3 billion, up 9%. The company added approximately $1 billion of AUM during the quarter after recovering from crypto-related declines over the prior two quarters.
By July, assets managed onchain had increased to approximately $5 billion. More than seven individual assets on the platform each surpassed $100 million of AUM, which Securitize said was more than any competing platform.
Revenue trends were more mixed. Total Q2 revenue declined to $14.4 million from $15.3 million. Tokenization revenue fell 12% to $7.8 million, while Asset Servicing revenue increased 3% to approximately $6.6 million. For the first six months of 2026, however, total revenue increased 16% to $33.9 million, including a 63% increase in Asset Servicing revenue.
Securitize Fund Services was servicing 663 active funds at quarter-end with $24.3 billion of assets under administration, although AUA declined approximately 20% year-over-year.
Profitability also moved in the opposite direction from transaction activity. Securitize reported a Q2 net loss of $21.7 million compared with a $6.1 million loss a year earlier, while adjusted EBITDA shifted to a $5.5 million loss from positive adjusted EBITDA of $1.8 million.
The GAAP loss was affected by several valuation-related items. These included changes in the fair value of option, derivative and future-equity liabilities, along with public-company readiness costs and a loss on digital assets held for investment.
At the same time, Securitize is expanding its role in regulated capital markets. During Q2, Securitize Markets received FINRA approval to custody tokenized securities, enabling atomic settlement between tokenized securities and stablecoins. The approval also allows it to participate in underwriting and selling groups for initial and secondary offerings.
Shortly after the quarter, Securitize partnered with Cantor Fitzgerald to develop infrastructure for onchain IPOs and follow-on offerings. The partnership is designed to allow companies to issue securities using blockchain infrastructure while remaining within the framework of traditional regulated public offerings.
The company’s existing institutional tokenization ecosystem is also expanding. BlackRock’s BUIDL became available as yield-bearing collateral through a framework involving OKX and Standard Chartered, extending the tokenized fund into institutional trading and collateral-management workflows.
Securitize also expanded its Tokenized AAA CLO Fund to Solana, followed by a $250 million allocation from Ethena Labs’ USDe, and added TRON to its multichain infrastructure.
The company entered Q3 with a substantially stronger balance sheet following completion of its business combination immediately after the quarter. Securitize said it had approximately $350 million of cash and no debt following the transaction.
KEY QUOTES:
“In the second quarter, Securitize continued to lead the tokenization industry as the largest platform by tokenized assets, showing how years of investment across regulation, technology and institutional infrastructure have come to fruition.”
“We established landmark relationships with Computershare and Continental to advance issuer-sponsored tokenized equities on the back of our earlier partnership announcement with NYSE for 24/7 trading of tokenized stocks, expanded our broker-dealer capabilities, and continued to build the liquidity, collateral and settlement infrastructure required for tokenized assets to function across global capital markets.”
Carlos Domingo, Chairman and CEO of Securitize
“While our quarterly revenue can be volatile at this stage of Securitize’s growth, we remain focused on driving top-line growth by making the necessary investments to expand our businesses, strengthen our capabilities, and capitalize on the opportunities ahead.”
Francisco Flores, Chief Financial Officer of Securitize
