Key Takeaways:
Superstate raised $82.5 million in a Series B round, with Bain Capital Crypto and Distributed Global in the lead. They will use the funds to have an on-chain issuance layer of SEC-registered stock on Ethereum and Solana. At this moment, they handle over 1.23B worth of assets and as a registered transfer agent make real-time settlements come to pass. The company, which translates real-world assets to tokens (called Superstate), has just nailed an $82.5M Series B led by Bain Capital Crypto and Distributed Global, indicating that it takes the move to blockchain assets of regular public stock seriously.
Scaling the On-Chain Issuance LayerTheir ultimate ploy is to travel beyond their dividend-yielding assets and issue stocks directly out of the chain. Being an SEC-registered transfer agent, they are able to maintain records of ownership and can settle directly on Ethereum or Solana, without having to rely on the classical bulky databases, to be cleaned up manually.
The founders mention that the technology to make capital markets more efficient already exists. They are not waiting until after the year 5000 to start using tokenization as some sort of dream, they are starting to excavate regulated workflows now. They desire the firms to generate cash and maintain shareholder records that are of blockchain-level transparency and rapidity.
Listing Bell and Public EquitiesThe major portion of the push is the platform Opening Bell. It allows public companies to tokenise their shares, making investors a true owner of the company, rather than a gamble on a price fluctuation. Most recently they improved it by allowing companies to sell digital shares directly, with stablecoins settling immediately.
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Increase in Tokenized Funds ProductsAlthough equity has taken over the limelight, they are already overloaded with tokenised Treasury. They control more than $1.23B under regulated products. A large portion is occupied by their US Government Securities Fund (USTB), and the more recent Crypto Carry Fund (USCC).
This money is performing well in that bank institutions desire off-chain means of acquiring vintage income. Institutional money is primarily the gateway of Superstate by connecting DeFi and regulated markets. The new money will enable them to expand, deal with a greater volume and diversify their assets.
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