Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Key Notes
- The funding round was spearheaded by Bain Capital Crypto and Distributed Global with multiple crypto-focused investors participating.
- Opening Bell platform allows SEC-registered firms to issue tokenized shares directly on blockchain networks using stablecoins as payment.
- SharpLink Gaming and Forward Industries have already adopted the platform to bring their equity onchain for continuous trading.
Fintech tokenization firm Superstate has announced the successful completion of an $82.5 million Series B round led by Bain Capital Crypto and Distributed Global, with participation from Haun Ventures, Brevan Howard Digital, Galaxy Digital, Sentinel Global, Bullish, Hypersphere Capital, and Flowdesk.
According to a Jan. 22 press release, the funds will be used to accelerate development of the firm’s tokenization and IPO infrastructure platform.
The firm’s flagship product, called Opening Bell, enables firms to tokenize stock on Ethereum and Solana and raise capital with an onchain Direct Issuance Program. This essentially brings IPO functionality directly on chain without the need for wrapped tokens and fiat-to-crypto bridges.
1/ We’re proud to announce an $82.5M Series B, led by @BainCapCrypto and Distributed Global, with participation from @HaunVentures, Brevan Howard Digital, @galaxyhq, Sentinel Global, @Bullish, @hypersphere_, and @flowdesk_co alongside our existing investors. pic.twitter.com/k25Vwn7pI5
— Superstate (@SuperstateInc) January 22, 2026
Opening Bell Platform Brings IPO Functionality Directly Onchain
Superstate acts as an SEC-registered Transfer Agent through its Direct Issuance Programs (DIP), which allows registered issuers to offer new shares on Ethereum and Solana, with investors paying in stablecoins and receiving tokenized shares instantly at real-time market prices.
While firms have always been able to tokenize real-world assets (RWAs) for use as digital receipts for traditional financial activity, Superstate is among the first firms to allow shareholders to move tokenized assets between wallets and chains seamlessly with updates to shareholder registries happening automatically.
As Coinspeaker reported in September 2025, esports and technology firm SharpLink Gaming Inc. announced plans to tokenize its SEC-registered common stock on the Ethereum blockchain via Superstate’s Opening Bell platform, making it the first SEC-registered public company to place its equity onchain.
Forward Industries, a NASDAQ-listed global design company operating as a treasury service and trading under the stock ticker FWDI, also announced plans to tokenize its common stock on the Solana blockchain via the Opening Bell platform in September 2025, further signaling the shift from the “banker’s hours” paradigm of old to the modern 24/7 global trading environment facilitated by tokenization and blockchain technology.
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