“I don’t even know who my shareholders are, which is insane.”
Securitize CEO @carlosdomingo on why public companies can lose sight of who owns their shares, and how onchain ownership records can make dividends, proxy voting, and shareholder engagement more direct.
Andy, you are just trying to be controversial here (I guess it's your job). That letter (like many others I have submitted to the SEC over the years through three different chairs, btw) is public and available for anyone to read, so you have not discovered anything new. And yes, as I said there, we have never asked for an exemption for anything because we do not need it since we are fully regulated in the US and have all the necessary licenses to operate. But as I also said in the letter, some rules need to be updated and modernized to accommodate blockchain-based securities. You are welcome to read many other letters with specific suggestions about what things to change or modernize related to topics like TA rules (which they are doing now, and we submitted a very detailed recommendation last year about it) or custody of tokenized securities for broker-dealers (which they changed, and we applied and got a license to do it), among others. I think rulemaking, rather than temporary exemptions, is a better mechanism for changing regulations.
Here you can see what we submitted to the SEC in May last year about modernizing their rules, particularly regarding transfer agents. Nobody sent a more detailed explanation of how each rule needed to be modernized, one by one, look at the end at Appendix A for the needed changes for Section 17 of the Exchange act https://t.co/WDuh3KSSHT
Listen closely to what @carlosdomingo, CEO of
@Securitize is saying here on @_TalkingTokens
He lived through the IPO process himself, and remember Securitize is helping build an onchain version of it.
That caught my attention immediately.
Securitize listed on the New York Stock Exchange on July 2 under SECZ and tokenized its own common stock at the same time.
Carlos came out of that process talking about the huge regulatory burden, legal costs, bankers and layers of work involved in taking a company public.
A few weeks later, Securitize and Cantor Fitzgerald announced plans for onchain IPOs and follow-on offerings.
That is a serious progression.
And SEC Chairman Paul Atkins is pushing in the same direction.
He wants to “Make IPOs Great Again,” get growing companies into public markets earlier, and create clearer rules for tokenized securities.
The SEC is also modernizing transfer-agent rules to account for blockchain-based securities offerings and share transfers.
Now connect that with Ripple.
Securitize has already announced it is integrating with XRP Ledger.
Ripple has invested in ZILO and Licuido, bringing digital transfer agency, tokenized issuance and collateral mobility into XRPL infrastructure.
RLUSD can provide the digital cash side.
XRPL has institutional token standards through Multi-Purpose Tokens, Credentials and Permissioned DEX infrastructure.
So picture the direction:
A company raises capital.
Shares are issued digitally.
Eligible investors receive them onchain.
RLUSD settles the cash side.
Ownership updates digitally.
The stock can later trade, move, or potentially become collateral.
I’m not saying Securitize and Cantor have selected XRPL for their IPO platform.
I’m watching something bigger:
the infrastructure an onchain public market needs is being built at the same time Securitize is integrating with XRP Ledger.
Carlos experienced the old IPO system firsthand.
Now he is helping build what could come after it.
If public markets really start moving onchain, how big could the role of ripple:native Ledger become?
⚡️ RWA Protocols by Collected Fees in August
@Securitize collected the most fees in August at $13.6M on $4.99B TVL, nearly double second-place @Ondo at $7.35M.
@Centrifuge follows at $5.85M, though its $480K revenue is a fraction of its fee total, reflecting a much smaller protocol take rate than Securitize.
What do some of the largest and most recognizable companies in blockchain have in common?
They’re sponsoring Avalanche Summit NYC.
@BitGo, @ethena, @GoKiteAI, @Securitize, @avax_one, and more, will be taking New York by storm.
September 16-17. NYC.
SECZ recorded the largest seven-day market cap increase among individual tokenized stock assets at +$29.2M
Three CRCL stock tokens also ranked in the top six: CRCLb +$15.1M, CRCLon +$12.1M, and CRCLx +$9.7M, for a combined increase of $36.9M
Tokenized stocks market cap growth by asset, year to date. SECZ leads with $192 million, followed by STRCx and a strong showing from Circle’s tokenized shares across three separate listings.
Via @tokenterminal
Tokenisierte Aktien erreichen neues Allzeithoch von 3 Mrd. $
Die größten Namen sind SECZ und STRCx. SECZ, Securitize's eigener tokenisierter Wert, liegt bei rund 184 Mio. $. STRCx, Strategy ($MSTR)'s STRC Vorzugsaktie, erreicht rund 147 Mio. $.
We’ve signed an MoU with @varadubai to advance tokenization and digital asset infrastructure across Dubai.
The agreement supports Dubai’s ambition to become the leading global jurisdiction for regulated tokenized financial markets and digital financial infrastructure.
Together with @Securitize, @Socios is building the regulated infrastructure to bring minority equity in professional sports teams onchain.
Socios Equity Token aims to open a historically private asset class to eligible fans and investors through regulated tokenization.
Today, the SEC announced a proposal to modernize the rules governing registered transfer agents. We are encouraged to see the Commission recognize that these rules should evolve as the industry adopts new technologies, including blockchain.
As the first operational transfer agent leveraging blockchain technology, we have always believed that transfer agents are a critical part of market infrastructure, in fact, it’s something we said in our initial response to the SEC’s Crypto Task Force:
“Transfer agent rules need to be modernized to leverage the power of tokenized securities, including using a public blockchain, as augmented by the transfer agent.”
Modernization should raise standards, not lower them. Updating the regulatory framework to reflect how securities markets and their underlying technology are evolving is exactly the right move.
Credit to Chairman Atkins, Director Jamie Selway, Commissioner Hester Peirce, and the SEC for continuing to move the regulatory framework forward. This regulatory momentum, alongside real industry adoption, is a strong tailwind for digital securities.
We will submit comments during the public comment period and look forward to engaging with the Commission.
@AlderLaneEggs@carlosdomingo@tZERO “IP theft”?
That’s quite a strong accusation when the court hasn’t even ruled on infringement yet.
ICE licensing tZERO’s patents shows that ICE sees commercial value in tZERO’s IP. It does NOT prove that Securitize infringed those patents.
@AlderLaneEggs@carlosdomingo@tZERO We should be promoting tZERO’s value, not creating unnecessary negativity that could hurt the company and ultimately the value of our own investment.
Let the court decide.
@AlderLaneEggs@carlosdomingo@tZERO And for the record, I’m also a tZERO investor. As a fellow tZERO holder, I’d appreciate it if you stopped posting unnecessary attacks like this.