The blockchain -based assets management firm, Superstate, said Thursday that it has registered its digital transfer agent, Superstate Services LLC, with the United States Stock Exchange and Securities Commission (SEC), a movement aimed at joining tokenized assets with existing financial regulations.
Transfer agents help issuing issues administer shareholders, process transactions and distribute dividends. As values move more and more in the chain, digital transfer agents play a fundamental role in maintaining compliance and governance. Superstate services will use the maintenance of recorded records in blockchain to track the property in real time. A smart contract permit list will ensure that only approved investors can acquire tokenized shares.
“Through this innovative approach, the advances superstate tokenized the fulfillment of security while they are integrated into the existing regulatory regime,” the company said in a statement.
The Superstate registration occurs after the SEC Commissioner, Hester Peirce, who directs the agency’s cryptographic working group, said the importance of transfer agents in the future of the tokenized values last month.
Read more: the sec Hester Peirce commissioner presents 10 priorities for the new cryptographic working group
Superstate, led by CEO Robert Leshner, is one of the key players in the tokenized asset space that offers two tokenized security funds, USTB and USCC with more than $ 420 million of assets under combined administration.
Initially, the services superstate will support only their own funds, but the company plans to expand services to other issues as the tokenized stock market grows.
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