Superstate Rolls Out Direct Stock Issuance for Public Companies on Ethereum, Solana

• Superstate’s new Direct Issuance Program allows public firms to issue tokenized shares on Ethereum and Solana.
• SEC-registered companies can raise funds by selling shares onchain, raising capital in stablecoins with instant settlement and real-time record updates.
• The launch aligns with U.S. regulators' growing support for blockchain-based capital markets.

Superstate, a blockchain-focused financial technology firm, has rolled out a new platform that allows U.S. Securities and Exchange Commission (SEC)-registered public companies to issue shares directly onchain to investors on Ethereum ETH$3,358.85 and Solana SOL$136.94.

Called the Direct Issuance Program, Superstate's new initiative allows companies to raise capital by selling newly-issued, tokenized equity in exchange for stablecoins. Investors receive the tokenized shares immediately, and the company’s shareholder records are updated in real time via Superstate’s SEC-registered transfer agent infrastructure.

First issuers are expected to go live next year, the firm said.

The move comes as tokenization is gaining traction with financial institutions and other businesses exploring blockchain rails for efficiency gains. In an interview last week, SEC Chairman Paul Atkins said tokenization could "reshape the financial system" over the next few years, underscoring how regulators are opening the door to blockchain as part of the next generation of market infrastructure.

Superstate's new initiative marks a shift from traditional capital raising — where public companies typically rely on banks, underwriters and weeks of paperwork — to a model where firms can take investments directly into a crypto wallet. The process could reduce costs and remove delays, according to Superstate.

"It’s time for a reset that better serves investors and smaller issuers, and makes clear that onchain capital raising should be possible without persistent uncertainty," Superstate CEO Robert Leshner said. "If public companies are going to raise capital faster, more efficiently, and more globally, primary issuance needs rails that support instant settlement, transparent participation, and compliance by design — not bolted-on workarounds."

Superstate's direct issuance tool builds on Opening Bell, a platform rolled out earlier this year for tokenizing public equity. Galaxy Digital (GLXY) and Sharplink Gaming (SBET) were among the first to use the system, issuing a version of their stocks.

Read more: Regulatory Battle Over Tokenized U.S. Stocks Escalates, HSBC Says

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