tZero Group, a New York–based blockchain infrastructure company focused on tokenized securities and real-world assets, said it plans to go public in 2026. The firm disclosed its intent for a U.S. initial public offering on Monday, adding to a growing list of digital asset companies preparing for listings after a revival in market sentiment. Founded in 2014, tZero builds technology for companies to raise capital and trade securities on blockchain-based platforms compliant with U.S. securities law. The company operates under a regulatory framework that supports private offerings and alternative trading systems. Chief Executive Alan Konevsky told Bloomberg the firm is in discussions with several banks but has yet to appoint an underwriter. He added that tZero, which employs just over 50 staff and remains unprofitable, may seek another funding round before the listing.
Investor Takeaway
tZero’s planned IPO highlights renewed investor appetite for tokenization infrastructure as U.S. regulatory clarity encourages blockchain firms to re-enter public markets.
Push to Tokenize Real-World Assets
Tokenization converts traditional assets—such as currencies, equities and real estate—into digital tokens that can trade on blockchain networks around the clock. Proponents say it can streamline settlement and widen market access by lowering barriers for issuers and investors. tZero said its decision to list reflects a belief that tokenization will become a key element in capital formation and cross-border finance. The company has raised about $200 million to date, according to Konevsky. Intercontinental Exchange, the parent of the New York Stock Exchange, is among its investors, a link that could help position the firm for institutional credibility once public. The company’s own tokenized shares already trade on its platform, giving it a live example of how blockchain can support regulated secondary markets. Konevsky said the team continues to build compliance-focused infrastructure for private markets ahead of the planned offering.
Crypto Listings Regain Momentum
tZero’s move comes amid a broader wave of crypto-related IPOs following the passage of the GENIUS Act in July and the Trump administration’s supportive stance on digital assets. The law established the first federal framework for dollar-backed stablecoins and reinforced a sense of policy stability for fintech listings. Several high-profile firms have gone public this year. Stablecoin issuer Circle listed on the New York Stock Exchange in June with a $1.05 billion offering, its shares jumping 167% on debut. Bullish, the exchange operator and parent of CoinDesk, completed a $1.1 billion IPO in August. In September, Gemini, founded by Cameron and Tyler Winklevoss, listed on the Nasdaq after raising its valuation target days before pricing. Kraken is also reportedly preparing for a U.S. listing in 2026 after a $500 million raise in September that valued the company at $15 billion. Analysts see these offerings as evidence that crypto finance is moving from private rounds toward regulated public markets, supported by stronger oversight and institutional interest.
Investor Takeaway
Tokenization and blockchain infrastructure firms are emerging as the next wave of public-market candidates, following exchanges and stablecoin issuers into the regulated space.
Outlook
tZero’s planned debut will test investor demand for blockchain infrastructure at a time when public markets are re-evaluating the sector’s long-term value. If successful, it could offer one of the first direct exposures to tokenization technology on a major U.S. exchange. The company’s links to traditional finance through Intercontinental Exchange may appeal to institutional investors seeking regulatory familiarity alongside blockchain exposure. As crypto listings gain traction, 2026 is shaping up to be a defining year for the intersection of public equity markets and tokenized finance. For tZero, the path to profitability and scale will determine whether it can convert its early role in regulated digital securities into a durable presence on Wall Street.