Superstate raises $82,5 million to expand on-chain operations.

• Superstate expands issuance of regulated on-chain shares.
• Series B reinforces tokenization on Ethereum and Solana.
• Infrastructure connects traditional markets and blockchains.

Superstate announced it has raised $82,5 million in a Series B funding round, strengthening its strategy to expand its on-chain equity issuance infrastructure. This initiative reinforces the company's positioning in modernizing capital formation through public blockchains, focusing on regulated solutions for the institutional market.

The funding round was led by Bain Capital Crypto and Distributed Global, with participation from investors such as Haun Ventures, Brevan Howard Digital, Galaxy Digital, Sentinel Global, Bullish, Hypersphere Capital, Flowdesk, 1kx, Intersection, ParaFi, and Road Capital. The company chose not to disclose its valuation after the investment, maintaining its focus on operational and technological advancements.

In the official statement, Herve Bizira, president of Distributed Global, stated:

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“Superstate reflects the type of company we are excited to support: category-defining infrastructure, with a clear customer, a clear use case, and a clear path to scale, positioned at the heart of real-world asset transfer and capital formation for public blockchains.”

The statement highlights investors' understanding of the company's structural role in the sector.

With this new funding round, Superstate's total raised exceeds US$100 million. In June 2023, the company raised US$4 million in a seed round and, later that year, completed a Series A round of US$14 million. Since then, the company has experienced accelerated growth, reaching more than... $1,2 billion in assets under management in their tokenized investment products.

The new capital will be directed toward expanding operations beyond tokenized Treasury bonds. Superstate plans to move forward with offering SEC-registered shares directly on Ethereum and Solana, while maintaining investments in regulatory-compliant issuance, settlement, and shareholder registration systems. This expansion includes strengthening the transfer agent infrastructure and the Opening Bell platform.

By the end of 2025, Superstate expanded Opening Bell to support Direct Issuance Programs, allowing public companies to issue tokenized shares without traditional underwriters. According to CEO Robert Leshner, "This year, tokenization will catalyze the transformation of capital markets." The company is also continuing to expand its team in the areas of engineering, legal, and institutional finance.

Superstate's infrastructure has already been used by companies such as Galaxy Digital, SharpLink, and Forward Industries, in addition to a recent partnership with the Backpack exchange to support the trading of tokenized shares issued natively on the blockchain.