As reported by BlockBeats on November 15th, Superstate, a blockchain technology-based asset management firm, successfully secured $14 million in a recent funding round. This fundraising was spearheaded by CoinFund and Distributed Global, and saw participation from major companies like Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and Road Capital Management.
Superstate, led by Compound's founder Robert Leshner, aims to create regulated and compliant investment tools using public blockchains which are accessible to US investors. As per the company's plans, the raised funds will be utilized for team expansion, setting up private funds for institutional investors, and building a framework for tokenized public funds. This significant development signals the venture's dedication towards promoting blockchain technology and developing advanced financial services.