Digital asset securities firm Securitize has detailed its acquisition of Pacific Stock Transfer (PST).
The action is significant to bridging the process of issuing shares and tracking ownership from the paper-based
method to a blockchain-enabled digital future.
“Securitize’s acquisition of Pacific Stock Transfer will bring significant benefits to both companies and shareholders, particularly PST clients who will benefit from new exposure to capital raising, investment and trading opportunities, as well as the option to tokenize and digitally service their shares as well as their shareholders that will see their experience digitally enhanced,” Securitize CEO Carlos Domingo said. “This acquisition is a big step forward for Securitize in significantly increasing our ability to introduce new capabilities to more companies, as well as for the financial services industry in general with this major step in building and broadening a ‘blockchain bridge’ from a paper-based past to a digitally native future.”
The transaction makes Securitize one of the nation’s top 10 largest stock transfer agencies by accounts while becoming the first and only top 10 transfer agent to issue and manage shares digitally.
Pacific Stock Transfer would continually operate under its current brand. Services it presently provides will continue to be provided by the same team, and clients will benefit from increased exposure and access to digitized services.
“For over 38 years, Pacific Stock Transfer has been one of the most important companies most people have never heard of: from creating shares to tracking ownership to voting, tax, reporting, and more, we do all the heavy lifting that enables businesses and shareholders to own and trade stocks,” Pacific Stock Transfer Chief Operating Officer Billy Miller said. “Pacific Stock Transfer has already made this process more efficient for our clients through our DTC / Fast Automated Securities Transfer service.”