Overview
- Superstate’s Direct Issuance Programs let public companies mint and sell newly issued, tokenized shares on Ethereum and Solana with instant settlement in stablecoins.
- Shareholder records update in real time through SEC-registered transfer agent infrastructure, following staff guidance that a blockchain can serve as a master securityholder file.
- The first primary offerings using this setup are expected to go live in 2026, according to the company.
- Early groundwork includes Galaxy Digital tokenizing GLXY shares on Solana via Superstate, demonstrating transfer-agent–synchronized cap tables.
- Market plumbing points to a hybrid phase as DTCC and Nasdaq build tokenization bridges and compliant venues mature for secondary trading.