Superstate

Superstate is a financial technology firm founded in 2023 that is reshaping public capital markets by connecting traditional financial assets with crypto capital markets. The company provides infrastructure for onchain public listings and tokenized investment products, serving institutional investors, public companies, crypto protocols, and treasury operators.

Core Products/Services

Superstate operates through two principal business lines:

Opening Bell — Superstate's flagship platform for tokenizing publicly traded equity on blockchain networks. As an SEC-registered transfer agent, Superstate works with public companies to make their shares natively available on Ethereum, Solana, Plume, and other major blockchains. Tokenized shares are not derivatives, wrappers, or new share classes — they are the same legal shares that trade on traditional exchanges like the Nasdaq or NYSE. Opening Bell includes a Direct Issuance Program that allows public companies to raise capital directly from global investors by issuing new tokenized shares settled in stablecoins, without requiring an expensive underwriter or intermediary.

Tokenized Investment Funds — Superstate manages two SEC-compliant tokenized private funds available to Qualified Purchasers:

• USTB (Short Duration US Government Securities Fund): A tokenized fund backed by short-duration U.S. Treasury Bills with $832M+ AUM, 3.45% 30-day yield, and ≤0.15% management fee. Held on Ethereum, Solana, and Plume. Integrated with Aave for borrowing and lending.
• USCC (Crypto Carry Fund): A tokenized fund optimized for crypto basis (cash-and-carry) strategies across Bitcoin, Ethereum, Solana, and XRP with $285M+ AUM, 2.48% 30-day yield, and 0.75% management fee. Integrated with Aave, Kamino, and Morpho.

Key Strengths

• SEC-registered investment adviser and SEC-registered transfer agent (Superstate Services LLC)
• Built-in compliance via token-level permissioning, KYC'd allowlisted wallets, and programmatically enforced transaction restrictions
• DeFi-native infrastructure: Protocol Mint and Redeem smart contracts, onchain settlement, continuous NAV/share accrual
• Multi-chain support across Ethereum, Solana, and Plume
• Institutional-grade custody via The Bank of New York Mellon (USTB) and Anchorage Digital (USCC)
• Audited by Ernst & Young LLP; NAV calculated by NAV Fund Services
• Real-time shareholder visibility and portfolio management via investor portal

Notable Clients/Projects

• Galaxy Digital Inc. (GLXY) tokenized its stock via Superstate's Opening Bell platform
• SharpLink Gaming (SBET), Forward Industries (FWDI), and Exodus Movement (EXOD) have tokenized shares listed
• USTB integrated as collateral on Aave (Ethereum) and Kamino (Solana) lending protocols
• USCC integrated on Aave, Kamino, and Morpho
• Backed by Bain Capital Crypto, Haun Ventures, Galaxy, BH Digital (Brevan Howard), ParaFi Capital, and 15+ other leading crypto/venture investors

Why Choose Superstate

Superstate bridges the regulatory rigor of traditional finance with the speed, transparency, and composability of blockchain infrastructure. Companies gain access to global crypto-native capital markets 24/7, while investors receive real legal ownership of securities — not synthetic exposures — that can be held in self-custody wallets, traded on decentralized exchanges, and used as collateral in DeFi protocols. Superstate's no-hype, compliance-first approach makes it a trusted partner for both traditional institutions entering Web3 and crypto-native protocols seeking yield-bearing, regulated onchain assets.