Key Highlights
- Benchmark begins tracking Cantor Equity Partners II (CEPT) with Buy recommendation and $16 valuation target.
- The company plans to combine with Securitize, a tokenization platform valued at $1.25 billion in the transaction.
- Securitize commands approximately 70% of the tokenization market in the United States and operates BlackRock’s $2.2B BUIDL fund.
- A new collaborative platform for tokenized securities with continuous trading was unveiled by the NYSE and Securitize recently.
- Analysts estimate Securitize’s potential market opportunity at $300 trillion in global real-world assets.
CEPT shares were changing hands near $11 when this analysis was published.
Cantor Equity Partners II, Inc. Class A Ordinary Share, CEPT
Benchmark investment bank has launched coverage of Cantor Equity Partners II with a Buy recommendation, highlighting the upcoming combination with Miami-headquartered tokenization platform Securitize as a major driver for growth. Research analyst Mark Palmer established a $16 valuation objective, based on projections showing Securitize achieving $178 million in annual revenue by late 2026.
Securitize provides comprehensive infrastructure for converting real-world assets into digital tokens on blockchain platforms. These assets span equities, fixed income securities, and investment funds. Benchmark characterizes the platform as an attractive pure-play opportunity in the tokenization sector.
The combination between CEPT and Securitize received public announcement in October 2024, establishing a $1.25 billion implied valuation for the tokenization company. Following transaction completion, the merged entity will begin trading on the Nasdaq exchange using the ticker symbol SECZ.
Palmer emphasized strong predictability in Securitize’s future revenue streams, highlighting upfront fees collected from asset tokenization projects alongside ongoing servicing charges as dependable income sources. The analyst noted that Securitize’s platform-agnostic approach across multiple sectors provides meaningful strategic advantages.
“Securitize is really focused on providing the process behind tokenization, from origination through servicing, in a way that’s applicable to a breadth of industry verticals,” Palmer said.
Strategic Relationships with BlackRock and NYSE Strengthen Market Position
Securitize serves as the administrator for BlackRock’s BUIDL fund, which stands as the industry’s largest tokenized money-market product at $2.2 billion in assets under management. The fund operates across eight distinct blockchain networks, including Ethereum and Solana. BlackRock demonstrated confidence by leading a $47 million strategic investment in Securitize, creating what Benchmark considers a substantial competitive moat.
The New York Stock Exchange and Securitize revealed plans last week for a joint infrastructure supporting tokenized securities with around-the-clock trading capabilities. This collaboration positions Securitize as central to modernizing U.S. capital market operations under the SEC’s “Project Crypto” framework.
According to Palmer at Benchmark, Securitize’s infrastructure offers distinct advantages by eliminating dependencies on traditional clearing systems such as the DTCC. This architectural choice distinguishes the platform from competitors like Figure Technologies, which completed its Nasdaq listing in September 2025 with a concentrated focus on tokenized home equity credit products.
Massive $300 Trillion Market Opportunity
Benchmark assigned a $300 trillion total addressable market figure to Securitize, representing the aggregate value of real-world assets worldwide. Palmer explained that the platform’s sector-neutral design removes growth constraints associated with vertical-specific solutions.
“The concept here really is better and faster across the board,” Palmer told Decrypt. “It’s just a matter of time before the market begins to recognize the benefits both in terms of efficiency and settlement times.”
Securitize maintains roughly 70% market share in U.S. tokenization activities, per Benchmark’s research. This dominant position, combined with partnerships involving blue-chip financial institutions, should enable the company to expand its competitive advantages as adoption accelerates.
CEPT shares traded around $11 when Benchmark released its research report, representing meaningful upside potential to the analyst’s $16 price objective.
