Tokenization firm Securitize has agreed to acquire River Credit Labs, known as River One, to expand into asset-backed lending. The company announced the deal alongside its third-quarter results on November 9, and expects the transaction to close in the fourth quarter of 2026, subject to customary closing conditions. The purchase price was not disclosed.
River One develops software that helps institutions arrange and manage asset-backed credit, aiming to link stablecoin capital with traditional lending markets. Securitize plans to add warehouse financing to its tokenization platform, which provides short-term credit lines that allow lenders to fund loans before selling them or bundling them into securities. River One was incubated by Framework Ventures and is backed by Maple Finance.
Securitize reported total third-quarter revenue of $18.6 million, up 13% year over year and 29% from the second quarter. This was the second largest quarterly revenue in the company's history and its first reporting period as a public company. Average tokenized assets reached a record $5 billion, up 39%, while total tokenized assets rose 9% to $4.8 billion as of September 30. Total transaction volume climbed 20% to $4.3 billion.
Tokenization revenue was $11.5 million, up 28% year over year, while asset servicing declined 6% to $7.2 million. Securitize Fund Services administered 669 active funds with $25.2 billion in assets, a 29% decline. Nine-month revenue reached $52.5 million, up 15%. The company restated full-year 2026 revenue guidance of $70 million to $80 million.
CEO Carlos Domingo said ARK Invest, BlackRock and Neuberger launched new tokenized products, calling it “the clearest sign yet that institutions are past the experimenting stage.” CFO Francisco Flores said the company was “very pleased” with its first reporting period as a public company.
The quarter ended with a net loss of $66.3 million, or $0.41 per diluted share, with roughly 90% of the loss related to largely non-cash charges from the business combination and NYSE listing and warrant-related expenses. Adjusted EBITDA loss was $2 million, a 64% improvement from the second quarter. The company reported about $300 million in cash and cash equivalents and no debt. The board approved buybacks of up to $50 million of common stock on November 6, running through December 31, 2027.
Securitize shares closed at $6.97 on Monday, up 0.1%, and traded at $7.88 in after-hours trading, up 13.1%. Separately, Securitize Japan was targeted in a cyberattack that exposed data on customers of Sony Bank, NTT Data and Marui Group, according to reporting. Sony Bank froze trading of its digital securities, and Marui said the number of digital bond applicants affected was as many as 9,086.
