Securitize earns less from tokenizing more in its first results
The largest tokenization platform filed its first quarterly results as a public company on 12 August.
Regulator
Financial Industry Regulatory Authority
The self-regulatory organisation that admits, examines and disciplines US broker-dealers under the oversight of the Securities and Exchange Commission, and publishes their registration records through BrokerCheck, where Wintermute USA LLC was recorded as an active member firm on 6 August 2026.
The profile
FINRA describes itself as a self-regulatory organisation for member broker-dealers, registered with the Securities and Exchange Commission and operating under its oversight, and is careful to say that it is a private not-for-profit membership organisation rather than part of the government. Its own account dates the work to the 1930s. It writes and enforces the rules that govern member firms, examines them for compliance, monitors market activity for misconduct, administers the qualification examinations that licence individual representatives, runs the industry's dispute resolution forum and operates trade reporting facilities. For a firm entering the US securities business the practical consequence is that registration with the SEC is not the end of the process: membership of a self-regulatory organisation is required as well, and it is the approval date in FINRA's records that fixes when a broker-dealer became one. BrokerCheck, its public register, is where that date and the firm's SEC number can be read.
Frameworks and functions
- BrokerCheck
- FINRA's public register of member firms and registered representatives, carrying each firm's name, SEC file number, registration status, approval date, branch count, address and disclosure history.
- Membership and examination
- The admission process for broker-dealers and the periodic examination programme that follows it, covering compliance with FINRA rules, the federal securities laws and the qualification requirements for registered individuals.
Coverage
Developments in which Financial Industry Regulatory Authority is a named party, newest first.
Trading venues
Wintermute registers a US broker-dealer to trade stocks and ETPs
The crypto market maker's New York affiliate is registered with the SEC and admitted to FINRA membership as a proprietary trading firm, able to trade equities and equity options, self-clear digital asset securities for its own account and create and…
On the record
Securitize reports falling tokenization revenue on record tokenized assets
In its first results as a public company, filed on 12 August 2026, tokenization revenue fell 12 per cent to $7.84m while average tokenized assets under management reached a record $4.3bn and aggregate transaction volume rose 147 per cent to $5.3bn. Net loss was $21.7m, most of it fair-value marks, and fund services assets fell about 20 per cent.
Wintermute registers a US broker-dealer
Wintermute said on 6 August 2026 that its affiliate Wintermute USA LLC had registered as a broker-dealer with the Securities and Exchange Commission and joined FINRA, as a proprietary trading firm able to trade equities and equity options, act as an authorised participant for exchange-traded products and self-clear digital asset securities for its own account. BrokerCheck dates the approval to the same day.