Superstate, an on-chain asset management firm, has announced that it has registered its blockchain-based transfer agent, Superstate Services LLC, with the U.S. Securities and Exchange Commission.
The registration of the digital transfer agent aligns with Superstate’s goal of using blockchain technology to advance the integration of tokenized securities. Ensuring compliance with existing regulatory frameworks while bringing real-world assets on-chain is Superstate Services LLC’s top priority, the company said in a blog post.
The tokenized securities market benefits from transfer agents, whether issuers or markets, in tracking the ownership, issuance, and redemption of shares. With transfer agents in place, issuers can focus on business growth and operations while ensuring effective governance and boosting shareholder confidence.
Superstate’s agent services aim to bring these advantages to the market, enabling issuers to leverage the asset manager’s on-chain record-keeping system for real-time ownership monitoring.
“Initially, Superstate Services will only support our Superstate Funds as we seek to broaden their distribution. But, we aim for Superstate Services to be a crucial enabling service provider to all issuers as more securities become tokenized,” the company said.
The asset manager’s tokenized securities funds set to benefit from this include the Superstate Short Duration U.S. Government Securities Fund, USTB, and the Superstate Crypto Carry Fund, USCC.
USTB allows qualified purchasers and accredited investors to explore investment opportunities via short-duration Treasury bills, while USCC offers institutional investors a crypto basis strategy. Per rwa.xyz, USTB has over $319 million in assets under management.
The registration with the SEC comes amid broader pro-crypto sentiment on the regulatory scene in the U.S. Earlier this week, Commodity and Futures Trading Commission acting chair Caroline Pham said the CFTC and SEC were engaging amid efforts for further regulatory collaboration.
Also notable are comments by SEC Commissioner Hester Peirce, who currently leads the securities watchdog’s crypto task force. In recent remarks, she stated that transfer agents could play a crucial role in the tokenized securities market as the industry seeks regulatory clarity.
