Key Highlights
- Benchmark analysts have launched coverage on Cantor Equity Partners II (CEPT) with an optimistic Buy recommendation and a $16 valuation target.
- The SPAC is preparing to combine with Securitize, a tokenization platform valued at $1.25 billion in the transaction.
- Securitize commands approximately 70% of the tokenization market in the United States and manages BlackRock’s $2.2 billion BUIDL fund.
- A new collaboration between the New York Stock Exchange and Securitize will enable a platform for tokenized securities with 24/7 trading capabilities.
- Analysts estimate the potential market for Securitize at $300 trillion in tokenizable real-world assets.
CEPT shares were changing hands near $11 when this analysis was published.
Cantor Equity Partners II, Inc. Class A Ordinary Share, CEPT
Benchmark has launched analyst coverage on Cantor Equity Partners II with an optimistic Buy recommendation, highlighting the upcoming combination with Miami-headquartered tokenization specialist Securitize as a significant growth driver. Mark Palmer, the firm’s analyst, established a $16 valuation objective based on projections that Securitize will achieve $178 million in annual revenue by late 2026.
Securitize provides a comprehensive platform for converting real-world assets—including equities, debt instruments, and investment funds—into digital tokens on blockchain infrastructure. Benchmark characterizes the company as a “compelling pure-play investment on tokenization.”
The combination between CEPT and Securitize was unveiled in October 2024, assigning Securitize an enterprise value of $1.25 billion. Upon closing, the merged entity is anticipated to trade on the Nasdaq exchange under the symbol SECZ.
Palmer highlighted strong revenue predictability for Securitize, noting that the company generates origination fees when clients tokenize assets plus ongoing servicing revenue that provides steady cash flow. He emphasized that the platform’s versatility across multiple industries represents a strategic advantage.
“Securitize is really focused on providing the process behind tokenization, from origination through servicing, in a way that’s applicable to a breadth of industry verticals,” Palmer said.
Strategic Partnerships with BlackRock and NYSE Strengthen Market Position
Securitize currently operates BlackRock’s BUIDL fund, which stands as the industry’s largest tokenized money-market product with $2.2 billion in assets deployed across eight blockchain platforms including Ethereum and Solana. BlackRock previously spearheaded a $47 million strategic investment round in Securitize, creating a relationship that Benchmark considers a significant competitive moat.
Just last week, Securitize and the New York Stock Exchange revealed plans for a joint venture to construct a platform dedicated to tokenized securities, offering around-the-clock trading functionality. This strategic alliance positions Securitize as a central player in the modernization of American capital markets infrastructure aligned with the SEC’s “Project Crypto” regulatory framework.
Benchmark’s Palmer contends that Securitize’s technology stack offers superior capabilities compared to most rivals because it circumvents traditional clearing systems like the DTCC. This architectural approach differentiates it from companies such as Figure Technologies, which went public on Nasdaq in September 2025 with a narrower focus on tokenized home equity credit products.
Massive $300 Trillion Opportunity in Asset Tokenization
Benchmark calculated Securitize’s total addressable market at $300 trillion—representing the aggregate value of tokenizable real-world assets worldwide. Since the platform maintains an industry-neutral approach, Palmer noted the company faces no limitations from any particular sector.
“The concept here really is better and faster across the board,” Palmer told Decrypt. “It’s just a matter of time before the market begins to recognize the benefits both in terms of efficiency and settlement times.”
Securitize maintains roughly 70% market share in U.S. asset tokenization, according to Benchmark’s research. This dominant position, coupled with partnerships with industry-leading firms, is projected to help the company expand its competitive edge as institutional adoption accelerates.
CEPT shares were trading around $11 when Benchmark released its coverage report, representing a significant discount to the analyst’s $16 valuation target.
