Superstate Raises $14 Million in Series A Funding to Modernize Investment Funds with Blockchain Technology

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Superstate, an asset management firm focused on modernizing investment fund infrastructure through blockchain technology, has successfully raised $14 million in its Series A funding round. The round was co-led by CoinFund and Distributed Global, with participation from various venture capital firms such as Galaxy Ventures, Arrington Capital, and Breyer Capital. The funding will be used to expand the team and finance private funds targeted at institutional investors. Additionally, Superstate plans to develop a framework for compliant, tokenized, publicly registered investment funds. This funding comes after Superstate filed for regulatory approval from the US Securities and Exchange Commission (SEC) to create a short-term government bond fund on the Ethereum blockchain. In other news, Commerzbank has become the first full-service bank in Germany to receive regulatory approval for a crypto custody license. This license allows the bank to develop digital asset services solutions, including those specifically for crypto assets. Commerzbank’s move highlights its commitment to adopting the latest technologies and innovations, positioning itself to serve customers in the growing blockchain technology industry.

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