Tokenized transactions surge to $5.3 billion but generate just $14M as costs soar by 56%

Securitize, a platform that issues and services tokenized securities, expanded the activity flowing through its system in the second quarter, but Securitize's revenue did not reflect that scale.

Average tokenized assets under management reached $4.3 billion, up 16% from a year earlier, while aggregate transaction volume climbed 147% to $5.3 billion, according to the company's second-quarter results. Securitize's revenue nevertheless fell 5% to $14.4 million, and the company reported a $21.7 million net loss.

Securitize's revenue lagged platform growth

Securitize defines transaction volume as investments, redemptions, dividends and cross-chain asset movements. The increase was driven mainly by subscription and redemption activity in BlackRock's BUIDL and BUIDL-I funds, along with a $250 million subscription to the Securitize Tokenized AAA CLO Fund, according to the company's management discussion. The measure captures platform activity, a broader category than recognized revenue.

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