what's Superstate?
Superstate is an asset management firm specializing in tokenized financial products that bridge traditional finance with blockchain technology. The company focuses on modernizing investment infrastructure for institutional and crypto-native investors by enabling on-chain issuance, trading, and management of assets. Through platforms like Opening Bell, Superstate allows companies to issue SEC-registered shares directly onto blockchains such as Ethereum and Solana, facilitating compliant tokenization of public equities for 24/7 global access. Key offerings include tokenized funds designed for stability and yield generation. The Short Duration U.S. Government Securities Fund (USTB) invests in short-term U.S. Treasury and agency securities, represented as an ERC-20 token for self-custody or institutional holding across multiple blockchains. Similarly, the Crypto Carry Fund (USCC) employs a cash-and-carry strategy to capture basis between spot prices and futures for assets like Bitcoin and Ether, providing exposure to crypto markets with reduced volatility. Superstate emphasizes compliance, liquidity, and programmability, partnering with exchanges like Backpack for native on-chain equity trading and protocols like Aave for collateralized lending. This ecosystem expands capital formation by connecting traditional assets to decentralized finance, enabling automated settlement, transparent ownership, and broader investor participation without intermediaries.
Superstate nominated for 'Best In Tokenization' award; ceremony Dec 30, 2025.
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Nominated for "Best In Tokenization" award at an awards ceremony scheduled for December 30, 2025.
Integrated with Chronicle Labs' Proof of Asset verification system for onchain finance.
Yuzu Money activates a 7-day countdown to whitelist Superstate as a venue for backing assets through its Asset Whitelist transparency feature.
Galaxy ($GLXY) becomes the first public equity issued directly onchain through Superstate Opening Bell service.
Generates $2.8M in 30-day revenue with +380% YTD growth, ranking among top RWA projects by revenue performance in December 2025.
Launches new Direct Issuance Programs that enable public companies to raise capital using tokenized stock.
$USCC fund (~$600m AUM) integrates as the first strategy in Renzo Protocol's new Renzo Reserve institutional vault, providing onchain yield from BTC/ETH/SOL/XRP basis trading.
$USCC becomes the largest RWA on Aave Horizon according to LlamaRisk's new report on the platform.
Listed as one of 6 largest tokenized fund issuers alongside Circle, Ondo Finance, Securitize, WisdomTree, and Centrifuge, with 5 of 6 largest deployments on Ethereum.
Uses Chainlink to securely bring NAV and AUM data onchain for $USTB fund, which reaches $800M+ in assets.
CEO speaks at RBLTSecurities' 17th Annual FinTech Summit next Tuesday on a tokenization panel alongside leaders from Fairmint, ClearToken, Kaiko, and CoinFund.
Combined AUM for USTB and USCC reaches ~$1.6B heading into year-end.
Usual Money launches USD0a, backed by $USTB T-bill fund and $USCC crypto basis fund as collateral.
Generates $446K in 30-day revenue, up 46%.
Tokenized GLXY shares can be bought on-chain and offer the same rights as traditional equities.
USCC represents 41% of Aave Horizon's total market size and offers 5%-15% yields as a crypto carry trade fund.
USCC reaches $660M and USTB reaches $800M in total value.
HSDT, a NASDAQ-listed and Pantera-backed company, will tokenize its shares on Superstate's Opening Bell platform.
USCC ranks #1 and USTB ranks #6 among fastest growing RWAs based on 30-day market cap growth across the entire sector.
USDCC grows +15% in TVL and USTB grows +13.5% in TVL over the past week, both ranking among top 5 stablecoins for weekly TVL growth.
USCC ranks #1 and USTB ranks #2 as fastest growing tokenized funds in the $100M-$1B supply range.
USTB ranks #7 among top yield-bearing stablecoins by 90-day supply change.
Partnership with ResolvLabs uses USCC to back USR stablecoin with institutional-grade reserves, deployed on Aave Horizon.
USCC ranks as the second fastest growing RWA on Ethereum based on 30-day TVL growth percentage.
Superstate hosts meeting with UK Parliamentary digital assets delegation in New York City, with Dr Lisa Cameron facilitating UK-US engagement.
Aave has doubled USCC circulation since Horizon launch.
Superstate ranks as one of the fastest-growing protocols on a weekly basis among protocols with at least $500M TVL.
Superstate surpasses $1B in tokenized funds and brings Galaxy's $GLXY shares onchain.
Spark protocol deploys $100 million into USCC fund, with USCC currently yielding 9.26% APY from crypto basis strategies via CME futures.
Exodus (NYSE: EXOD) announces shareholders can now hold their common stock on Solana through Superstate's issuance platform.
$USCC reaches over $100M in supply on Aave Horizon.
USCC becomes available on Aave Horizon market with 10% yield, offering up to 30%+ returns when leveraged 4x against RLUSD at 2.5% borrow rate for qualified purchasers.
Backpack exchange becomes the first centralized exchange to partner with Superstate for native onchain equities trading through the Opening Bell platform, with user registration now available and launch expected in coming weeks.
Superstate participates in the first block trade of CME Group's XRP options with Wintermute on October 12.
Protocol fees increase by 165.4% over 7-day period, ranking 5th among top projects by fee growth.
SharpLink (SBET) partners with Superstate to offer tokenized shares through the Opening Bell platform.
Tokenized funds USTB and USCC surpass $1 billion in total value locked, marking a significant milestone.
Superstate enables native NASDAQ GLXY stock trading directly on Solana blockchain, offering onchain native versions rather than mirror assets. This represents implementation of decentralized capital markets infrastructure allowing traditional stock purchases through blockchain.
Aave Horizon begins accepting USCC and USTB tokens as collateral alongside other tokenized treasuries and funds.
Superstate ranks 5th among top weekly TVL movers, indicating significant capital flow changes.
Robert Leshner from Superstate participates as angel investor in Forward Industries' $1.65 billion private placement for Solana Treasury Strategy.
Drift Protocol announces close collaboration with Superstate on enabling tokenized DATs as collateral for borrowing and trading on their platform.
UpexiTreasury plans to tokenize company equity through Opening Bell, citing compliance and traditional equity rights as key factors.
First-ever direct tokenization of SEC-registered shares implements native on-chain recording, distinguishing from traditional synthetic wrapper models.
New bridging functionality launches for GLXY stock, enabling direct brokerage-to-chain transfers.
Galaxy Digital launches tokenized GLXY shares on Opening Bell platform, enabling KYC-approved investors to convert SEC-registered shares to on-chain tokens with instant settlement and 24/7 transferability.
USCC and USTB tokens approved as collateral on new Aave V3 Horizon protocol, enabling 24/7 stablecoin borrowing against RWA assets.
Frax Finance adopts USTB as primary reserve asset for frxUSD, leveraging GENIUS Act compliance for tokenized T-bills.
Expanding infrastructure now supports public equity dual listings with integrated on-chain dividends and shareholder voting.
Reaches $654.3M tokenized AUM, establishing position as third-largest RWA issuer globally.
Galaxy signs agreement with Superstate to issue tokenized $GLXY shares onchain.
Partnership with SOL Strategies announced for compliant on-chain equity issuance, enabling direct interchangeability with underlying securities.
Founder's liquor company takeover bid fails due to poison pill defense; crypto pivot continues regardless.
USTB tokens now serve as collateral for FalconStable's USDf mint, demonstrating first institutional implementation of tokenized treasury yield strategies.
Former Compound Finance founders now lead project, expanding from DeFi to onchain stock tokenization.
Assets Under Management nearing $1B milestone, showing accelerated growth momentum from June's $848.8M figure.
Launching tokenized stock protocol on Solana following BackedFi's xStocks debut, expanding product offering into stock tokenization market.
Platform expanding capabilities to enable direct onchain public offerings.
Nasdaq-listed Upexi adds $7.8M in SOL to treasury and plans SEC-registered share tokenization through Opening Bell platform.
Manages $848.8M in tokenized assets, establishing position as third-largest RWA issuer globally.
Weekly surge in tokenized yield products: USTB (+66.6%) and USCC (+17%) demonstrate accelerating adoption.
New product 'Opening Bell' launches, bringing tokenized equities to Solana ecosystem.
Framework for compliant tokenized securities submitted to SEC in collaboration with Solana Policy Institute, Phantom, and Orca.
Protocol deploys $35.87M TVL on Plume Network, representing one of six protocols controlling 90% of total network value.
RWA-native chain launches with PLUME utility for gas, staking, and governance; validator program live and L1 in private testnet.
USTB and USCC funds integrate with NestCredit vaults on Plume Network, enabling new yield-generating opportunities through deposits.
New BitGet integration enables USTB-backed yield product BGUSD, growing institutional adoption.
Pending approval, USTB fund will become first regulated, yield-bearing stablecoin substitute for U.S. retail, featuring 30-second NAV updates.
Total AUM surpasses $800M milestone, indicating significant protocol growth.
USCC AUM grows 56.41% to $140.96M in past 30 days.
Receives $300M allocation from Spark's liquidity layer as part of major institutional funding initiative.
Opening Bell platform targets earlier-stage companies for SEC-compliant on-chain equity trading.
Strategic deployment through Spark Liquidity Layer, representing one-third of major partners expected to generate 43% of $130M protocol revenue.
Product name 'Opening Bell' revealed for on-chain stock trading, supporting both Solana and Ethereum networks.
SEC-registered public equity trading on-chain confirmed with first issuer.
Launches new stocks-on-chain feature, expanding into tokenized securities market.
Launches onchain equities platform enabling public companies and late-stage startups to access internet capital markets.
New onchain equities product launches, expanding into traditional financial markets
On-chain stocks product launches, marking expansion into traditional finance integration.
USTB fund AUM grows 254.50% YTD while USCC fund rises 12.82%
Partnership formed to list US tokenized equities on Solana blockchain.
Vault now offers 23% net APY with daily rewards and institutional strategies
Opening Bell platform debuts on Solana for trading SEC-registered equities, with Sol Strategies as first listing.
Major product expansion announced to integrate stocks into DeFi protocols.
Total value increases 72% in past month, with majority in $USTB U.S. securities fund on Ethereum and Plume Network.
SEC approval being sought for blockchain securities trading in partnership with Solana Institute and Orca.
Major regulatory framework proposed to SEC for bringing traditional stocks to blockchain, in collaboration with Solana Policy Institute and Orca.
New V5 smart contract deploys on Ethereum Mainnet with customizable USTB/USDC routing and enhanced transaction transparency.
New vault yields 16% APY through institutional strategies, tops all ecosystem vaults.
Receives $95M allocation from MakerDAO's $1B treasury diversification initiative.
Fresh $150M RWA deployment executed across multiple protocols including USTB product.
Major RWA deployment by Spark includes allocation to USTB as part of $150M multi-protocol investment.
CEO scheduled to speak on institutional tokenization track at Solana Conference this May.
CEO speaking at TokenizeThis event on RWA utility panel on April 17th.
$USTB tokens are allocated to Spark Protocol's Liquidity Layer, providing backing for Sky Ecosystem's stablecoins through tokenized T-bills.
USTB token grew 63% in past month focusing on on-chain Treasuries.
Registered Superstate Services LLC as transfer agent with SEC to enable integration of tokenized securities into regulatory framework.