Shares of Securitize, Inc. (NYSE: SECZ) rose 9.92% to $13.92 in after-hours trading on Thursday following the announcement of a new product called "Securitize Stocks." The Miami-based company revealed that it is bringing 12 major U.S. stocks onchain through the platform.
The tokenized shares are backed 1:1 by the underlying stock and will trade on Securitize’s registered broker-dealer platform for eligible investors in the U.S., the EU, and other permitted jurisdictions. Transactions are settled in USDC on the Solana network.
The initial lineup of tokenized stocks includes Apple Inc., Microsoft Corp., Nvidia Corp., Alphabet Inc., Tesla Inc., Meta Platforms Inc., Amazon.com Inc., Netflix Inc., Circle Internet Group Inc., Space Exploration Technologies Corp., Strategy Inc., and Palantir Technologies Inc.
Carlos Domingo, Chairman and CEO of Securitize, stated, "Tokenized stocks should give investors more than a price on a wrapper that tracks a stock and is only offered offshore."
Securitize has a market capitalization of $2.07 billion, a 52-week high of $17.01, and a 52-week low of $5.14. The stock has gained 16.79% over the past 12 months and is currently trading at 63.35% of its 52-week trading range. The Relative Strength Index (RSI) stands at 54.58.
