Superstate Raises $82.5 Million, Cashing in on Wall Street's Tokenization Bonanza
Superstate, a startup focused on tokenizing traditional assets, has raised $82.5 million in Series B funding led by Bain Capital Crypto and Distributed Global, with participation from major crypto investors. Superstate develops infrastructure to bring assets like stocks and government securities onto blockchains such as Ethereum and Solana. Tokenization has rapidly evolved into a mainstream trend, with industry leaders like BlackRock launching popular on-chain funds and the New York Stock Exchange planning tokenized asset trading platforms. Superstate has enabled companies, including Nasdaq-listed firms, to move their shares on-chain. CEO Robert Leshner predicts retail adoption will grow as tokenized stocks can be used as collateral within decentralized finance (DeFi). Crypto firms, including Coinbase, are entering the space, aiming to compete with established financial institutions. BlackRock reports that the merging of crypto and traditional finance is accelerating, creating new financial opportunities and increasing competition in the tokenized asset market.
