Financial technology and tokenization company Superstate raised $82.5 million in a Series B round, moving deeper into onchain capital markets with the goal of modernizing the way companies raise money and go public using blockchain.
The round was led by Bain Capital Crypto and Distributed Global, with participation from Haun Ventures, Brevan Howard Digital, Galaxy Digital, Bullish, ParaFi and several other cryptocurrency-focused investors, according to a press release shared with Cointelegraph.
“This year, tokenization will be a catalyst for the transformation of capital markets,” said Robert Leshner, CEO of Superstate. “We are grateful to our partners who allow us to develop our best-in-class team, products and ambitions,” he added.
According to him websiteSuperstate currently manages over $1.23 billion in assets across two tokenized funds. Most of this capital is in the US Government Securities Fund (USTB), which has approximately $794.6 million in AUM and offers a yield of 3.52%, while the Crypto Carry Fund (USCC) has approximately $441.9 million in AUM and a higher yield of 5.58%.
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Superstate for scaling in the chain release layer
Superstate plans to employ the fresh capital to expand its Treasury-backed initial offering and build a full onchain issuance layer for U.S. Securities and Exchange Commission (SEC)-registered stocks on Ethereum (ETH) and Solana (SOL).
The New York-based company also revealed plans to expand its transfer agent platform and Opening Bell, a platform for tokenized public equities, to support more issuers, workflows and distribution channels.
In tardy 2025, Superstate expanded its Opening Bell platform to support direct issuance programs, enabling public companies to issue and sell digital shares directly to investors via public blockchains.
As an SEC-registered transfer agent, Superstate manages issuance, settlement and ownership records online, enabling real-time transaction and ownership updates. The company says this replaces ponderous, manual processes and makes fundraising and IPOs more competent while maintaining compliance.
Related: Goldman Sachs, BNY will offer tokenized money market funds to clients
Tokenized US Treasuries surged 50x
As Cointelegraph reports, tokenized U.S. Treasury products have become one of the fastest-growing areas in the real asset market, expanding nearly 50-fold in less than two years as institutions seek profits online.
The sector’s market capitalization grew from less than $200 million at the beginning of 2024 to almost $7 billion by the end of 2025. BlackRock USD Institutional Digital Liquidity Fund (BUIDL) led the market, amassing nearly $2 billion in assets, offering tokenized exposure to short-term treasuries with a daily yield and onchain settlement.
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