Blockchain tokenisation startup Superstate has raised $82.5 million to help move Wall Street on-chain, CoinDesk reported on Jan. 22 local time.
Bain Capital Crypto and Distributed Global led the funding round, with participation from Galaxy Digital, Haun Ventures, Brevan Howard Digital, Sentinel Global, Bullish, Hypersphere Capital and Flowdesk.
Superstate supports companies registered with the U.S. Securities and Exchange Commission (SEC) in issuing digital shares directly without going through traditional brokers. This allows companies to hold IPOs on blockchains such as Ethereum and Solana. Trades are settled instantly and investor records are updated automatically, enabling a new capital market structure.
With the funding, Superstate plans to expand tools that allow companies to raise capital and run shareholder processes on public blockchains such as Ethereum and Solana. Superstate currently manages more than $1.2 billion in tokenised assets.
Global consulting firms such as McKinsey and BCG forecast the tokenisation market will grow to several trillion dollars over the next 10 years.
Chi-gyu Hwang
delight@d-today.co.kr