Securitize agrees to buy stablecoin-funded lender River One as its average tokenized assets hit a record $5 billion

Securitize, the tokenization company listed on the New York Stock Exchange, said on Monday it has signed a definitive agreement to buy River One, which it describes as an institutional asset-backed financing platform that draws on the stablecoin economy. River One was incubated by Framework Ventures and backed by Framework and Maple Finance. Securitize did not disclose the price and expects the deal to close in the fourth quarter, subject to customary conditions.

The purchase adds warehouse financing, lending backed by portfolios of income-generating assets, to a business built on putting funds and securities on blockchains. The Block reports that the aim is to offer asset-backed lending next to Securitize's tokenized products.

Third-quarter results, filed with the SEC, showed revenue of $18.6 million, up 13% from a year earlier. Average tokenized assets on the platform reached a record $5.0 billion, up 39%, while the total on September 30 was $4.8 billion. The net loss was $66.3 million, or $0.41 a share; the company says about $60 million of that was largely non-cash charges linked to its business combination and listing.

The board approved repurchases of up to $50 million of stock through the end of 2027, paid from cash on hand.