Hanwha becomes Securitize's largest shareholder with 9.6% stake

Hanwha Group has become the largest shareholder in tokenization firm Securitize after its combined stake across affiliates and investment vehicles reached 9.6%, according to newly disclosed U.S. regulatory filings.

Entities linked to the South Korean conglomerate collectively own 15.69 million shares, putting Hanwha ahead of Blockchain Capital's 6.0% stake and Securitize CEO Carlos Domingo's 5.4% holding, the SEC filings show.

The position is spread across three Hanwha units. A private equity fund managed by Hanwha Asset Management owns 5.9%. H Foundation, a subsidiary of Hanwha Systems, holds 3.1%. Hanwha Investment & Securities owns roughly 0.6%.

H Foundation first acquired a 5.2% interest in Securitize in 2021 as part of a push into security token technology and North American markets, earlier disclosures show. The latest ownership figures follow a recent investment round in which Hanwha Investment & Securities bought additional shares.

A spokesperson for Hanwha Investment & Securities told local media that each affiliate independently evaluated and executed its own investments. The firm was not involved in the investment decisions of other group companies, the spokesperson said. The company expects to decide whether to sell its shares after they become eligible for sale under SEC rules later this year, while leaving open the possibility of using the investment strategically in the digital asset tokenization sector.

Hanwha Investment & Securities has expanded its blockchain investments broadly this year. The company invested 10 billion won in blockchain data platform Xangle, 18 billion won in Web3 infrastructure firm Kresus, and 30 billion won in Digital Asset, the company behind the institutional blockchain network Canton Network, according to local media reports. It also added 597.8 billion won to its stake in Dunamu, the parent of crypto exchange Upbit, lifting its ownership to 9.84%. The firm's total Web3 and digital asset investments this year stand at roughly 655.8 billion won.

Securitize has continued to expand its role in regulated tokenized securities. This month, the company became the first newly public company to tokenize its own common stock on the same day it began trading on the New York Stock Exchange. The stock, listed under ticker SECZ, issued blockchain-based versions of the same shares on Solana and Avalanche networks. Securitize said the tokenized shares represent the same NYSE-listed stock, not a separate class of securities.

Last week, Securitize announced a partnership with Cantor to bring blockchain infrastructure into initial public offerings and follow-on equity offerings. Cantor will provide equity capital markets and trading services. Securitize will supply the infrastructure for issuing, distributing, and servicing tokenized securities. CEO Carlos Domingo previously said companies should not have to choose between traditional capital markets and blockchain infrastructure.

The firm's platform supports tokenized products for BlackRock, Apollo, BNY, Hamilton Lane, KKR and VanEck. BlackRock's tokenized U.S. Treasury fund BUIDL, one of the largest tokenized funds in the market, uses Securitize as its tokenization platform and transfer agent. Earlier this year, Securitize said its platform managed more than $4 billion in on-chain assets and supported over 650 tokenized funds.

Separately, Securitize faces ongoing litigation with tokenization platform tZERO over patent infringement allegations. Securitize has denied the claims and filed a complaint in the U.S. District Court for the District of Delaware seeking a declaration that its products do not infringe tZERO's patents. The court has not ruled on either side's claims.

The Hanwha stake gives the group a significant voice in Securitize's direction as the tokenization market matures. The company expects to decide whether to sell its shares after they become eligible for sale under SEC rules later this year.