Financial technology company Superstate has introduced a new method for US Securities and Exchange Commission (SEC)-registered public companies to raise capital directly on the blockchain.
With its Direct Issuance Programs (DIPs), any SEC-registered issuer can now launch new shares on Ethereum and Solana, allowing investors to use stablecoins for payment and receive tokenized shares immediately at real-time market prices, as announced by Superstate on Wednesday via Cointelegraph.
Jim Hiltner, co-founder and head of business development at Superstate, shared with Cointelegraph, “While the regulatory ability to directly issue registered shares isn’t new, the innovation lies in issuers now conducting these offerings onchain, significantly altering operational and economic possibilities.”
The DIPs launch aligns with Superstate’s goal to introduce compliant public-market infrastructure onchain. This model leverages Superstate’s SEC-registered transfer-agent framework to automatically update shareholder registries as tokenized shares transfer between verified wallets, ensuring adherence to existing securities laws.
“Any SEC-registered public company can execute an issuer-led primary offering onchain utilizing this structure,” stated Hiltner. “Our infrastructure is operational now, and issuers can start preparing and submitting their programs immediately, with the first public company offerings anticipated to launch in 2026.”
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Advancing Superstate’s onchain goals
DIPs expand upon a year of growth for the fintech startup in the onchain space. In May, Superstate unveiled Opening Bell, a platform enabling the tokenization and compliant onchain activities for SEC-registered equities.
In September, SharpLink Gaming, one of the largest public holders of Ether (ETH), announced plans to tokenize its common stock using Superstate’s platform. Galaxy Digital also revealed its tokenized public shares on Solana through Superstate’s transfer-agent framework during the same month.
The DIPs launch coincides with a year of growing tokenization initiatives across Ethereum and Solana, such as Franklin Templeton’s transition from tokenized money funds to multi-asset real-world asset (RWA) platforms.
The market for tokenized real-world assets surged past $24 billion on public blockchains by Q3 2025, with Ethereum and Solana representing more than half of all RWA activity.
Related: US Treasurys spearhead tokenization trend as CoinShares forecasts 2026 growth
A new avenue for issuers and investors
According to Hiltner, DIPs enable companies to structure their offerings under standard SEC registrations, receive stablecoin funds directly into their wallets, and instantly distribute tokenized shares to verified investors.
Each transaction updates the issuer’s shareholder registry in real time, maintaining the integrity of ownership records while allowing for immediate settlement. Hiltner noted that issuers can lower financing costs by minimizing underwriting and distribution fees and expanding their global reach to eligible investors.
For investors, this system enables both retail and institutional participants to buy newly issued stock directly from companies (often at prices below exchange rates), with shares settling in their wallets immediately.
“This merges regulatory compliance with onchain execution,” Hiltner explained. “If an investor fulfills all requirements, they can participate; if not, the system prevents the transaction.”
Superstate’s approach integrates established securities regulations with the rapid settlement capabilities of blockchain, aiming to bring traditional financial oversight to onchain capital market infrastructure.
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