Securitize closed Monday at $6.97, roughly unchanged on the day, and was down 38% year to date. The company said the acquisition of River Credit Labs, known as River One, would combine its tokenization infrastructure with River One’s warehouse financing technology, helping customers bring financial assets onto the blockchain.

Securitize said the deal positions it to enter a $6 trillion global private asset-backed finance market. Financial terms were not disclosed, and the transaction is expected to close in the fourth quarter.

For the third quarter, Securitize reported a loss of $66.1 million, or 41 cents a share, compared with a profit of $4.1 million in the year-earlier period. Analysts polled by FactSet had expected a loss of 22 cents a share. The company said the latest loss included about $60 million in largely non-cash expenses and accounting charges related to its merger and public listing. Revenue rose 13% to $18.6 million, topping analysts’ $17.6 million estimate.