TechFlow reported, according to CoinDesk, blockchain asset management firm Superstate announced in a press release that it has launched its tokenized U.S. Treasury fund product on Ethereum.
Superstate established its own private fund to directly hold short-term Treasury bills, targeting returns aligned with the federal funds rate. Investors can deposit in U.S. dollars or Circle's USDC stablecoin and receive USTB tokens representing their investment in the fund. Users may self-custody the tokens or opt for custodial services provided by Superstate partners Anchorage Digital and BitGo.
In a statement, Robert Leshner, founder and CEO of Superstate, said the USTB token is designed to offer U.S. institutional investors—venture capital funds, hedge funds, and digital asset companies—an alternative to stablecoins for holding cash on-chain while earning yield.
Previous report, Compound’s founder’s new company Superstate announced 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.
