Securitize Announces Acquisition of River One to Expand Asset-Backed Financing Business, Q3 Revenue Up 13% Year-over-Year

BlockBeats news, November 10: Tokenization platform Securitize announced the acquisition of institutional financing company River One to expand its warehouse financing business collateralized by loans and other assets. The transaction amount was not disclosed and is expected to close in the fourth quarter.

River One was incubated by Framework Ventures and backed by Maple Finance. According to KKR data, the global private asset-backed financing market was approximately $6.1 trillion in 2024 and is expected to exceed $9 trillion by 2029.

Securitize also released its third-quarter financial report, with revenue up 13% year-over-year to $18.6 million and a net loss of $66.3 million, of which approximately $60 million mainly involved non-cash expenses and accounting adjustments related to its listing and business combination. The platform's average tokenized asset scale increased 39% year-over-year to $5 billion, and trading volume rose 20% to $4.3 billion. The company also announced a share repurchase program of up to $50 million, and as of the end of September held approximately $300 million in cash with no debt. (CoinDesk)