The fintech firm's infrastructure allows businesses to sell tokenized shares directly to investors who pay with stablecoins on Ethereum and Solana networks.
Crypto News
Public companies registered with the Securities and Exchange Commission have gained access to blockchain-based capital raising through Superstate's newly launched Direct Issuance Programs. The fintech firm's infrastructure allows businesses to sell tokenized shares directly to investors who pay with stablecoins on Ethereum and Solana networks.
Jim Hiltner, Superstate's co-founder and business development head, said the regulatory framework for direct share issuance already existed but conducting these offerings on-chain creates new operational and economic possibilities. Any SEC-registered public company can now structure primary offerings through this infrastructure, which went live immediately.
Companies can begin filing programs right away, with initial public offerings expected to launch in 2026. The system uses Superstate's SEC-registered transfer agent infrastructure to automatically update shareholder registries as tokenized shares move between verified wallets, ensuring compliance with existing securities laws.
Issuers structure offerings under standard SEC registrations and receive stablecoin proceeds directly into their wallets. Tokenized shares distribute instantly to verified investors, with each transaction updating the shareholder registry in real time while maintaining ownership record integrity and enabling immediate settlement.
The model reduces financing costs by cutting underwriting and distribution fees while expanding global reach to eligible investors. Retail and institutional participants can purchase newly issued stock directly from companies, sometimes below exchange prices, with shares settling to wallets immediately upon transaction completion.
Superstate launched Opening Bell in May, a platform for tokenizing SEC-registered equities and enabling compliant on-chain activity. SharpLink Gaming announced tokenization plans through Superstate in September, followed by Galaxy Digital's launch of tokenized public shares on Solana using the same transfer agent infrastructure.
The tokenized real-world asset market exceeded $24 billion on public blockchains by Q3 2025. Ethereum and Solana captured over half of all RWA activity during this period, reflecting growing institutional adoption of blockchain-based financial instruments as traditional finance firms explore digital asset rails.
Hiltner emphasized the system's compliance-by-design approach, where transactions proceed only for investors who meet all requirements, while blocking those who don't. The platform merges established securities law with crypto's instant settlement capabilities, aiming to modernize capital markets infrastructure through regulatory compliance combined with on-chain execution.
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