Inside Securitize's $1.25B Nasdaq SPAC and Pacific Stock Transfer Acquisition | Billy Miller

Jan 29, 2026

Billy Miller, COO of Securitize, a transfer-agency veteran who led the Pacific Stock Transfer acquisition. He explains how transfer agents moved from back-office role to on-chain infrastructure. Topics include the Exodus tokenization milestone, why early tokenization focused on the wrong assets, 24/7 trading and DeFi utility, institutional standards, and a five-to-ten year shift to tokenized markets.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ADVICE

Tokenize Only With Clear Investor Utility

Only tokenize assets when the token delivers clear utility to investors, like 24/7 transfers, DeFi collateral use, or new trading rails.
Say no to tokenizations that lack adoption potential and design products with consumer utility in mind.

INSIGHT

Coexistence Beats Zero-Sum Narratives

The early zero-sum narrative (blockchain will kill incumbents) was overstated; coexistence between TradFi and on-chain systems is more realistic.
Institutions now recognize tokenization's inevitability and want to participate rather than be left behind.

ADVICE

Meet Institutional-Grade Requirements

Build tokenization infrastructure to meet institutional vendor standards: DDQs, insurance, SOC audits and regulatory compliance.
Operate within existing securities rules rather than seeking regulatory arbitrage to gain institutional trust.

Get the Snipd Podcast app to discover more snips from this episode

Get the app