Superstate
IssuanceActive· US

Superstate

Leshner bet on regulatory-first. Invesco took USTB, Bitwise takes USCC. The pattern is set: Superstate is becoming infrastructure, not asset management. SEC-registered when others cut corners.

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Brief

SEC-registered tokenized fund issuer, now turning into infrastructure. FundOS platform handles tokenized issuance and digital transfer agency for external managers. Invesco runs USTB on it. Bitwise runs USCC on it from June 2026. Opening Bell on Solana. Founded by Robert Leshner (Compound founder).

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Recent activity

Latest moves on the changelog feed.

  • Mar 29, 2026WIRED

    Superstate ↔ Kamino. Opening Bell equities as lending collateral.

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Snapshot

Key terms and identifiers.

Asset classes
Treasuries, Equities
Token standards
erc-20, eip-4626
Regulatory
sec-reg-d
Jurisdiction
US
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Milestones

How this player got here.

  1. May 2026Bitwise to take over USCC management June 1, 2026. Second external manager on FundOS platform.
  2. Mar 2026Superstate ↔ Kamino. Opening Bell equities as lending collateral.
  3. Jan 2025Crossed $400M AUM
  4. Jun 2024Launched USTB on Ethereum
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Connections

Who they build with, build on, integrate with.