Superstate, a leader in the tokenized asset space, announced Thursday that it has raised $82.5 million in Series B financing. The company plans to use the capital to move beyond tokenized Treasury bills and establish a dominant position in the onchain primary markets for SEC-registered equities.
The funding round was co-led by Bain Capital Crypto and Distributed Global, featuring a massive roster of participants including Haun Ventures, Brevan Howard Digital, Galaxy Digital, and ParaFi. While the firm did not disclose its current valuation, this latest round brings Superstate’s total funding to more than $100 million.
The investment follows a year of significant momentum for the firm. Superstate revealed that its assets under management (AUM) have climbed past $1.2 billion across its various tokenized products. According to Distributed Global President Herve Bizira, the firm represents “category-defining infrastructure” essential for bringing real-world assets onto public blockchains.
Superstate’s primary goal is to modernize how companies raise money. By using the Ethereum and Solana blockchains, the firm aims to streamline the issuance, settlement, and recordkeeping of traditional securities.
Superstate has evolved from early proof-of-concept experiments to a high-volume infrastructure provider. Through its platform, Opening Bell, the company supports “Direct Issuance Programs.” These programs allow SEC-registered public companies to sell tokenized shares directly to investors.
This model offers several key shifts from traditional finance:
- No Underwriters: Companies can raise capital without the traditional middleman.
- Stablecoin Integration: Investors can pay using stablecoins.
- Native Rights: Tokenized shares carry the same economic and governance rights as traditional stocks.
- Real-Time Settlement: As an SEC-registered transfer agent, Superstate updates shareholder registries automatically as tokens move onchain.
The firm has already seen successful deployments of its technology. Companies like Galaxy Digital and SharpLink have used Superstate to tokenize existing shares. More recently, Forward Industries utilized the platform to issue SEC-registered equity directly on the Solana blockchain.
To further boost liquidity and accessibility, Superstate recently partnered with the crypto exchange Backpack to support the trading of these natively issued tokenized stocks. With the new Series B capital, the company plans to expand its team across the legal, engineering, and institutional finance sectors to support a broader range of global issuers.
