Tokenization platform Securitize gains 10% postmarket on Q3 results, move into asset-backed finance

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Tokenization platform Securitize climbed about 10% postmarket after reporting third quarter growth alongside increased operating expenses, and announcing an expansion into asset-backed finance through a strategic acquisition. Miami-based Securitize, which made its public market debut in July, operates in the relatively new corner of the crypto equity universe involved in institutional tokenization infrastructure. Tokenized assets on the platform grew 9% in the third quarter, to $4.8 billion, from the same period a year ago. Aggregate transaction volume rose 20% from a year ago, to $4.3 billion. Revenue of $11.5 million was up 28% from last year.