TechFlow News — Superstate, a new company founded by Compound's founder, has announced the completion of a $14 million Series A funding round led by Distributed Global and CoinFund, with participation from Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and Road Capital Management.
Superstate focuses on developing regulated, compliant investment instruments using public blockchains accessible to U.S. investors. Led by Robert Leshner, founder of the DeFi lending platform Compound, the company plans to use the funds to expand its team, create private funds for institutional investors, and establish a framework for tokenized public funds.
Earlier this year, Superstate filed an application to launch a short-term U.S. government bond fund that would use the Ethereum blockchain as a secondary record-keeping mechanism.
