Tokenization platform Securitize announced a 39% year-over-year increase in first-quarter revenue, reaching $19.5 million, marking a record high for a single quarter. The company's asset services revenue surged by 201% to $8.3 million. As of March 31, Securitize managed tokenized assets worth $3.4 billion and had $24.9 billion in assets under custody.
Despite the revenue growth, Securitize reported a net loss of $7.9 million, an increase from the previous year. The losses are attributed to higher expenses related to expansion efforts and preparations for a SPAC merger with Cantor Equity Partners II. Securitize has established partnerships with major entities such as the New York Stock Exchange and Uniswap Labs.
Securitize Reports Record Q1 Revenue Despite Increased Losses
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