Superstate raises $82.5M to build blockchain IPO platform
Superstate has raised $82.5 million in a Series B round to advance its push into onchain capital markets, aiming to enable companies to issue and trade regulated shares directly on public blockchains.
According to its website, Superstate manages more than $1.23 billion in assets across two tokenized funds. The US Government Securities Fund (USTB) holds about $794.6 million in assets under management with a 3.52% yield, while the Crypto Carry Fund (USCC) has roughly $441.9 million and a 5.58% yield.
Superstate plans to use the new capital to expand beyond its initial Treasury-backed offerings and develop a full onchain issuance layer for United States Securities and Exchange Commission (SEC)-registered equities on Ethereum (ETH) and Solana (SOL).
The New York–based firm also intends to enhance its transfer agent platform and its Opening Bell platform for tokenized public equities to support more issuers, workflows and distribution channels.
In late 2025, Superstate expanded Opening Bell to support Direct Issuance Programs, enabling public companies to issue and sell digital shares directly to investors on public blockchains. As an SEC-registered transfer agent, Superstate manages issuance, settlement and ownership records onchain, enabling real-time trading and ownership updates. The company says this replaces slower, manual processes and makes fundraising and IPOs more efficient while maintaining compliance.
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