Superstate paid $82.5M to expand onchain IPOs and fundraising.
Financial technology and tokenization company Superstate has raised $82.5 million in series funding as it pushes deeper into onchain capital markets to modernize the way companies raise money and go public using blockchain.
The round was led by Bain Capital Crypto and Distribution Global, with participation from Hawn Ventures, Brevan Howard Digital, Galaxy Digital, Bullish, Parafy and several other crypto-focused investors, according to a press release shared with Cointelegraph.
“This year, tokenization will revolutionize the capital markets,” said Robert Leshner, CEO of Superstate. “We are grateful to our partners who help us grow our best-in-class team, products and ambitions,” he added.
According to its website, Superstate currently manages more than $1.23 billion in assets across two tokenized funds. Most of that capital is invested in the US Government Securities Fund (USTB), which holds about $794.6 million in AUM and yields 3.52%, while the Crypto Carry Fund (USCC) has roughly $441.9 million and yields 5.58%.
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Superstate to measure the onchain delivery layer.
Superstate plans to expand the new capital beyond the initial treasury-backed offerings and build full on-chain offering coverage for the United States Securities and Exchange Commission (SEC)-registered shares on Ethereum (ETH) and Solana (SOL).
The New York-based firm announced plans to expand its transfer agent platform and launch Bell to support additional issuers, workflows and distribution channels.
In the year By the end of 2025, Superstate has expanded its open-call platform to support live streaming programs and allow public companies to issue and sell digital shares on public blockchains directly to investors.
As an SEC-registered transfer agent, Superstate manages issuance, settlement and ownership records onchain, allowing trades and ownership updates in real-time. The company says this replaces slow, manual processes and makes fundraising and IPOs more efficient while remaining compliant.
Related: Goldman Sachs, BNY to offer tokenized money market fund to clients
Tokenized US Treasurys increase 50x
According to Cointelegraph, US Treasury yields have become one of the fastest-growing areas of the real-world asset market, with institutional demand for the on-chain product growing nearly 50-fold in less than two years.
The market capitalization of the sector in It has grown from less than $200 million in early 2024 to nearly $7 billion by the end of 2025. BlackRock's US Dollar Institutional Digital Liquid Fund (BUIDL) leads the market, accumulating nearly $2 billion in assets for short-term Treasuries with daily yields and onchain settlement.
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