Securitize has entered the $6 trillion asset-backed finance market after acquiring River One, a tokenization firm. The acquisition aims to expand Securitize's offerings in the asset-backed finance sector. River One's technology will enhance Securitize's capabilities in tokenizing assets.
Source
"Securitize Expands into $6 Trillion Asset-Backed Finance Market" — CoinDesk
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
The acquisition comes as Securitize reported a 13% increase in quarterly revenue, reaching a total of $50 million. In addition to the acquisition, the company has announced a $50 million stock buyback. This move has sent SECZ shares soaring 10% in after-hours trading.