TLDR:

• Securitize expects about $400 million in gross proceeds after fewer than 30% of SPAC shares were redeemed.
• The proposed business combination is expected to close on July 1 after shareholder approval on June 29.
• Securitize Corp. is scheduled to begin trading on the NYSE under the ticker SECZ on July 2, 2026.
• Securitize currently tokenizes more than $4 billion in real-world assets across its investment platform.

---

Securitize SPAC Deal is moving toward completion after the company confirmed its proposed business combination with Cantor Equity Partners II is expected to raise approximately $400 million in gross proceeds.

Fewer than 30% of CEPT Class A shareholders redeemed their shares, allowing most trust proceeds to remain available.

Subject to shareholder approval on June 29 and customary closing conditions, the transaction is expected to close on July 1, with the combined company targeting a New York Stock Exchange listing on July 2 under the ticker SECZ.

Securitize SPAC Deal Secures $400 Million Before Public Listing

Securitize and Cantor Equity Partners II announced the final redemption results on June 26 through an official company statement.

Less than 30% of CEPT Class A shareholders elected to redeem their shares before the proposed business combination.

The redemption outcome means Securitize expects to receive approximately $400 million in gross proceeds. The amount includes related PIPE financings but excludes all transaction-related expenses.

The companies also confirmed that 71.5% of the CEPT trust was retained. The proposed business combination remains subject to shareholder approval during the special meeting scheduled for June 29.

If shareholders approve the transaction and the remaining conditions are satisfied or waived, the companies expect to complete the merger on July 1.

The combined entity is then expected to begin trading on the New York Stock Exchange under the ticker SECZ on July 2.

CEO Discusses Public Market Plans as Tokenization Business Grows

Following the completion of the transaction, the combined company will operate as Securitize Corp. The company currently tokenizes more than $4 billion in real-world assets across its platform.

Commenting on the upcoming listing, Securitize Co-Founder and Chief Executive Officer Carlos Domingo said, “Reaching the public markets is a milestone for Securitize and a reflection of the growing momentum behind tokenization.”

He added that the company began more than eight years ago when institutional adoption of tokenized securities remained largely theoretical.

Domingo continued, “Today, tokenization is moving into the mainstream, and we believe becoming a public company gives us the visibility, credibility, and capital to lead that next phase of growth.” The remarks accompanied the company’s announcement of the expected closing timeline.

The company confirmed that the planned schedule remains unchanged following the redemption results. Subject to shareholder approval on June 29, Securitize expects to complete the business combination on July 1 before its shares begin trading on the NYSE under the SECZ ticker on July 2.

Securitize, one of the largest providers of tokenization infrastructure for Wall Street, expects to raise about $400 million as it prepares to go public through a merger with a Cantor Fitzgerald-backed special purpose acquisition company.

The company said Friday that, following lower-than-expected shareholder redemptions, the business combination with Cantor Equity Partners II (CEPT) is expected to generate roughly $400 million in gross proceeds, including private investment in private equity (PIPE) financing.

CEPT was 8% higher following the news.

The transaction is scheduled to close on July 1, pending shareholder approval on June 29 and other customary closing conditions. The combined company is expected to begin trading on the New York Stock Exchange the following day under the ticker SECZ.

Tokenization — the process of representing assets such as funds, bonds and private credit on blockchain networks — has become one of Wall Street’s fastest-growing digital asset initiatives. The market for tokenized real-world assets has grown to more than $30 billion excluding stablecoins, according to rwa.xyz, while Boston Consulting Group and Ripple project it could reach $18.9 trillion by 2033.

Key Takeaways

• Singapore’s financial authority flags Hyperliquid for operating without proper licensing credentials.
• The platform maintains it never represented itself as authorized by Singapore regulators.
• Alert listing doesn’t constitute an operational ban or indicate imminent legal action.
• Singapore continues strengthening regulatory framework for cryptocurrency platforms targeting domestic users.
• Despite regulatory spotlight, Hyperliquid maintains position as leading decentralized exchange.

On June 26, Singapore’s financial watchdog placed Hyperliquid on its official Investor Alert List, citing the platform’s absence of domestic regulatory approval. The warning encompasses both the Hyper Foundation’s web presence and its decentralized trading application. Importantly, this designation doesn’t constitute an outright prohibition or signal immediate enforcement measures.

Singapore Authority Issues Public Warning

The Monetary Authority of Singapore maintains this registry to spotlight financial operations lacking mandatory domestic approval. The authority uses this mechanism to identify services that Singapore residents might mistakenly believe are regulated entities. This alert serves to clarify Hyperliquid’s standing under Singapore’s regulatory framework.

The public alert mechanism dates back to 2004, established as a consumer safeguard initiative. Updates occur regularly, incorporating websites, corporate entities, and digital financial platforms. Appearing on this registry doesn’t necessarily imply fraudulent activity or criminal operations.

The designation indicates MAS hasn’t granted Hyperliquid permission to deliver regulated financial services within Singapore’s borders. Consequently, platform users cannot access the safeguards typically provided through domestically supervised financial organizations. No financial penalties or judicial proceedings against the platform have been disclosed by the regulator.

Platform Emphasizes Decentralized Framework

Hyperliquid responded by stating it never portrayed itself as possessing Singapore regulatory authorization. The platform emphasized the alert hasn’t impacted its permissionless operational model. Trading activity continues flowing through its blockchain-based network infrastructure.

The decentralized trading venue enables participants to maintain direct custody of their digital assets throughout transactions. Settlement occurs transparently via blockchain verification mechanisms. The platform contends its architectural design fundamentally differs from conventional centralized financial services.

According to the platform, its broader network will maintain ongoing dialogue with regulatory bodies and institutional players globally. It advocates for transparent regulatory guidelines governing decentralized finance and blockchain trading environments. Nevertheless, Hyperliquid hasn’t revealed intentions to pursue Singapore licensing.

Regulatory Pressure Intensifies Across Crypto Sector

MAS has expanded its alert roster to include multiple cryptocurrency trading platforms. Bybit received the same designation on June 17, joining previously listed exchanges KuCoin and Bitget. These inclusions demonstrate Singapore’s systematic approach toward unauthorized digital currency operations.

During May 2025, MAS mandated that Singapore-domiciled cryptocurrency companies servicing international clientele obtain proper licenses or cease activities. This directive eliminated a regulatory loophole permitting certain operators to bypass domestic approval requirements. The authority emphasized it had communicated this regulatory stance consistently since 2022.

These enforcement measures connect to enhanced consumer safeguards and strengthened financial crime prevention protocols. The regulator also aims to better harmonize with global anti-money laundering frameworks. Cryptocurrency enterprises based in Singapore now confront more demanding licensing requirements.

Exchange Sustains Leading Industry Status

Hyperliquid continues ranking among the most prominent decentralized trading venues notwithstanding regulatory attention. According to CoinGecko metrics, it holds ninth position among decentralized exchanges measured by transaction volume. DefiLlama data suggests the protocol secures approximately $5.7 billion in total value locked.

The venue concentrates primarily on perpetual futures contracts and additional blockchain-enabled trading instruments. Its architecture merges self-custodial features with high-speed transaction execution. Regulatory authorities may still evaluate how such platforms extend services to users within specific jurisdictions.

MAS hasn’t signaled whether additional measures targeting Hyperliquid will follow. The current alert primarily serves to inform Singapore residents about the platform’s regulatory standing. Meanwhile, the exchange maintains operations through its permissionless blockchain systems.

Stablecoin adoption has increasingly hinged on a practical question, how do users move fiat into crypto and back out without sacrificing the control promised by self-custody? On June 25, Noah, a stablecoin payments infrastructure provider, and Bron, a multi-party computation (MPC) self-custody wallet, announced a partnership designed to connect Bron users to Noah-powered stablecoin on- and off-ramp capabilities.

The companies position the integration as a way to streamline funding and withdrawals from a self-custody wallet, while keeping the user experience closer to familiar financial workflows. The development also reflects a broader market trend, stablecoins are shifting from niche trading instruments toward payment and remittance rails, which in turn increases demand for regulated and reliable fiat access.

What Noah and Bron say they are building

Noah provides what it describes as stablecoin payment rails for fintechs, exchanges, marketplaces, and other businesses across more than 70 countries. Its platform includes components intended to support compliant money movement, including on-ramps and payout-related services.

Bron, meanwhile, presents its wallet as a non-custodial self-custody product that reduces reliance on seed phrases through an MPC-based security design. According to the announcement, Bron uses a three-party MPC architecture for transaction authorization, splitting signing responsibilities across multiple shards, including one on the user device, one operating within the Bron platform, and one held by an independent third party appointed by the user for recovery. The release states that no single party can reconstruct or control the complete signing material or authorize transactions unilaterally.

Under the partnership, the companies say Bron users will be able to access stablecoin on- and off-ramp functionality powered by Noah’s network. In practical terms, the goal is to make it simpler for users to fund their self-custody wallet with stablecoins, and later convert them back out through the same ecosystem, without changing the underlying self-custody model.

Why on- and off-ramps matter for self-custody

Self-custody is often viewed as a security upgrade because users are expected to control their own signing material. However, many mainstream entry points into crypto are still built around centralized services such as exchanges or custodial wallets. As a result, users may have to navigate multiple steps and user experiences, from buying stablecoins on an exchange to transferring them into a self-custody wallet, and then reversing the process when they need fiat access again.

Stablecoin on- and off-ramps aim to reduce that friction. From an industry perspective, the challenge is not only technical integration, but also compliance and operational readiness, including identity checks where required, transaction monitoring, and the handling of fiat rails across jurisdictions. By routing on- and off-ramp activity through an infrastructure provider, wallet makers can focus on wallet security and usability while relying on an external entity for regulated fiat connectivity.

The Noah-Bron announcement suggests the companies are trying to connect these two layers, keeping the security posture associated with self-custody while using Noah as an intermediary for the fiat-to-stablecoin and stablecoin-to-fiat steps.

Implications for high-net-worth and cross-border use cases

The release frames the partnership around users who may want global dollar origination and payouts across markets and international jurisdictions. That points to an audience where cross-border liquidity and payout reliability are often more important than consumer-style onboarding.

For that segment, stablecoins can function as a bridge between traditional payment ecosystems and blockchain settlement. However, the value of the bridge depends on the ability to enter and exit efficiently. If on- and off-ramp access becomes smoother inside a self-custody workflow, it could lower the operational overhead for users who would otherwise rely on transfers between different platforms.

Still, the scope of what users will be able to do depends on how the integration is implemented and which jurisdictions and fiat methods are supported. The announcement indicates that Noah serves businesses in many countries, but it does not provide a detailed list of regions or user flows for Bron consumers.

MPC security, usability, and the security model question

Bron’s MPC-based approach is central to its positioning. In a traditional wallet, the main recovery and authorization mechanism is often a seed phrase, which can be risky if mishandled and inconvenient if users want a more guided recovery process. Bron states that its architecture eliminates seed phrases and introduces additional protections including biometric authentication, policy controls, delayed transfers, hidden vaults, and guardian-based recovery.

From an editorial standpoint, it is important to separate what the announcement clarifies from what it does not. The release describes how the MPC shards are distributed and emphasizes that no party can unilaterally access or move assets. But details on how users will experience on- and off-ramp steps inside the wallet, and what safeguards apply around fiat conversion and transaction initiation, are not fully specified in the announcement text provided.

Market context: stablecoins as infrastructure

Stablecoins continue to be positioned as one of the faster-growing “real-world” use cases in crypto, particularly for payments, remittances, and savings. In that environment, infrastructure partnerships are becoming more common because the ecosystem needs to connect regulated fiat systems with blockchain-based settlement.

Partnerships like the one between Noah and Bron fit a pattern where wallet products and payments rails converge. Wallet providers can improve usability by integrating with established on- and off-ramp providers, while payments infrastructure firms can expand distribution through wallet-based interfaces.

What remains to be seen is how quickly the integration translates into measurable user growth, retention, or transaction volumes, and whether it reduces the need for users to route through centralized exchanges for basic fiat access.

What to watch next

• Supported jurisdictions and fiat methods: integration details typically determine whether the partnership meaningfully expands access.
• User flow and fees: on- and off-ramp integration can change the cost structure versus using exchanges directly.
• Security and recovery behavior: MPC wallet recovery options may interact with onboarding and withdrawal workflows, which users should understand before switching.
• Regulatory posture: stablecoin rails often rely on regulated partners, so compliance coverage is an operational factor for end users.

For now, Noah and Bron have outlined a direction that speaks to the core bottleneck in self-custody adoption, connecting secure control with frictionless access. If implemented smoothly and broadly, the integration could help more users treat stablecoins as everyday payment and value transfer tools, rather than assets that require separate, multi-step processes to move in and out of fiat.

Framework Ventures, a San Francisco-based venture capital firm backed by crypto operators, has closed its fourth fund after raising $400 million for investments in “frontier technology.” The new pool will support not only digital-asset projects, but also emerging areas such as artificial intelligence, robotics, and energy, Fortune reported on Friday.

According to Fortune, co-founders Vance Spencer and Michael Anderson said roughly half of the committed capital has already been deployed. The firm did not disclose its limited partners, and Cointelegraph did not receive a response when it sought additional details about the latest fund.

Key takeaways

• Framework Ventures closed a $400 million fourth fund focused on “frontier technology,” spanning crypto and other emerging sectors.
• About half of the fund has already been deployed, though the firm did not name its limited partners.
• The shift is framed as complementary rather than a break from crypto, with Anderson pointing to alignment with founders’ build paths.
• Recent investments underline the strategy, including robotics and tokenized mortgage activity alongside core crypto holdings.

A frontier-technology fund, not a retreat from crypto

Framework’s latest raise comes as crypto venture firms increasingly look beyond blockchain while remaining active in digital assets. For Framework, the expansion appears designed to follow where its existing founder network is building.

In comments cited by Fortune, Michael Anderson said the firm is not simply chasing the AI trend. Instead, he described the approach as tracking founder-led momentum—suggesting that talent and product direction in frontier tech often overlaps with crypto-native experimentation.

“We can see these founders leading us in this direction,” he said, adding: “We should pay attention.”

How Framework’s recent deals fit the new thesis

Framework’s broader mandate is already visible in its deal activity. In early June, the firm backed Mecka AI, a robotics data startup, with a $60 million round, according to the reporting. Earlier, in February, Framework partnered with mortgage lender Better to support up to $500 million in financing through the Sky stablecoin ecosystem. Fortune also reported that Framework took a $45 million stake in Better, representing roughly 10% of the company’s stock.

The portfolio mix illustrates a consistent theme: backing infrastructure and products that can bridge digital finance with real-world systems. Rather than treating AI or robotics as standalone bets, Framework’s examples show an interest in data, operational tooling, and payments rails—areas where crypto firms often believe incentives and programmability can matter.

Framework also invests directly in established DeFi and digital-asset platforms. On its website, the firm lists positions in projects including Aave, Chainlink, Hyperliquid, Jito Labs, and Plasma.

From early DeFi to a multi-cycle venture strategy

Framework Ventures was founded in 2019, and its first fund focused on early decentralized finance (DeFi) projects. Over time, the firm broadened its investing approach while keeping its emphasis on founders building infrastructure and products in emerging digital-asset markets.

Framework’s history includes multiple fund cycles that map to different periods of the market. Fortune noted that the firm raised a $100 million second fund in 2021, and a $400 million third fund in 2022—both primarily focused on crypto investments. The fourth fund’s size and subject matter suggest an evolution rather than a reversal: continuing to allocate toward crypto while opening a larger window for adjacent frontier technologies.

Industry context matters here. Crypto venture capital has faced a recurring debate over whether early-stage crypto investing can sustain momentum once the sector matures, regulatory uncertainty rises, and attention shifts to AI. Framework’s framing—following founders rather than chasing headlines—attempts to resolve that tension by tying expansion to teams and products already in motion.

What to watch as the fund deploys

With “about half” of the $400 million already deployed, the new strategy is likely entering a visible phase soon, particularly through deals that connect digital assets with broader frontier tech use cases. Investors and builders will probably want to monitor whether Framework’s non-crypto bets stay closely linked to crypto infrastructure—or whether it begins to show a more distinct separation between its blockchain investments and its frontier-technology allocations.

In the near term, attention should also center on how the firm’s portfolio changes after this close: which founders and sectors gain the most allocation, and whether Framework’s approach mirrors the broader crypto venture shift toward diversification without losing a core commitment to crypto-native product development.

The Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator, has added decentralized perpetuals exchange Hyperliquid to its Investor Alert List.

The entry, added on Friday, includes the Hyper Foundation website and the Hyperliquid trading app.

The Investor Alert List is a consumer protection measure that identifies entities that may be wrongly perceived as licensed or regulated by MAS. Inclusion on the list does not constitute a ban or enforcement action.

MAS Investor Alert List. Source: MAS

MAS added crypto exchange Bybit to the list on June 17. KuCoin and Bitget also appear on the list. Cointelegraph reached out to MAS for comment but did not receive a response before publication.

Hyperliquid said that it has never claimed to be licensed or authorized by MAS and that nothing about its permissionless infrastructure has changed.

Related: Ripple joins Singapore sandbox to test RLUSD in trade finance

“The Hyperliquid ecosystem remains committed to engaging collaboratively and constructively with regulators and institutions globally and to supporting clear, well-designed frameworks for onchain finance,” the platform wrote in a Friday X post.

According to CoinGecko, Hyperliquid ranks as the ninth-largest decentralized exchange by trading volume, while DefiLlama estimates it holds about $5.7 billion in total value locked.

Singapore tightens crypto oversight

Singapore has steadily tightened oversight of the cryptocurrency industry in recent years. In May 2025, MAS ordered crypto companies serving overseas customers to either obtain licenses or cease operations, saying the policy reflected a long-standing regulatory position rather than a shift in approach.

The directive closed a regulatory loophole that had allowed some crypto firms based in Singapore to avoid licensing by serving only overseas customers. MAS said it had consistently communicated its position since 2022 and was ending the transition period for firms that had continued operating without a license.

MAS said the measures were intended to strengthen consumer protection and align the Lion City’s crypto framework with international standards on Anti-Money Laundering and Countering the Financing of Terrorism.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Framework Ventures, a venture capital company that backs crypto platforms, has closed its fourth fund while expanding its investment strategy beyond blockchain.

The San Francisco-based investor has raised $400 million to target “frontier technology,” including investments in crypto and technologies such as artificial intelligence, robotics and energy, Fortune reported on Friday.

The report cited Framework co-founders Vance Spencer and Michael Anderson, who said about half of the capital has already been deployed but declined to identify the fund’s limited partners.

The raise reflects a broader push by crypto venture firms to expand beyond blockchain into other emerging technologies while continuing to invest in crypto.

Not a shift away from crypto

Framework co-founder Anderson said the company is not simply chasing the AI trend, but instead following where its existing network of founders is already building.

“We can see these founders leading us in this direction,” he said, adding:

We should pay attention.”

Related: Social trading platform Fomo raises $75M, reaches $550M valuation

The company backed the robotics data startup Mecka AI in a $60 million round in early June. In February, Framework also partnered with mortgage lender Better to provide up to $500 million in financing through the Sky stablecoin ecosystem. Separately, Framework took a $45 million stake in Better, representing roughly 10% of its stock, according to Fortune.

Source: Framework Ventures

Cointelegraph approached Framework for details regarding the latest fund, but did not receive a response at the time of publication.

Framework’s portfolio includes Hyperliquid, Plasma and Aave

Framework Ventures was founded in 2019, when it launched its first crypto fund, focusing on backing early decentralized finance (DeFi) projects.

Its portfolio includes major crypto platforms such as Aave, Chainlink, Hyperliquid, Jito Labs and Plasma, according to the company’s website.

Framework Ventures’ portfolio. Source: Framework Ventures

The company says it has invested across multiple market cycles, focusing on founders building infrastructure and products in emerging digital asset markets.

Framework raised a $100 million second fund in 2021 and a $400 million third fund in 2022, both focused primarily on crypto investments.

Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves