The future is onchain. The SEC’s Innovation Exemption clears a path for tokenized equities where the onchain security is the actual share. “A defined U.S. route for trading real tokenized stocks on public blockchains.” @CoinDesk on what changes:

4/ None of this happened overnight. We built allowlisting, pre-settlement transfer checks, and recordkeeping tracking real ownership as shares move through AMM pools. That infrastructure is ready. Very soon, we’ll turn it on.

This is a big deal. The @SECGov is providing relief to allow natively-issued, permissioned tokenized equities to trade on AMMs and liquidity pools. @SuperstateInc we've been building towards the future where all securities come onchain and this is a huge unlock to enable regulated securities to be accessible through onchain venues.

Private credit has evolved. Meet VBDC. @ValinorDigital's VBDC is now onchain. Same private credit exposure, now open to qualified investors with daily liquidity. Learn more:

The Clarity Act failing today makes everybody a loser, all because partisan jockeying beat out common sense: The lines between tokens and securities are no more clear. Entrepreneurs will still prefer to build and raise capital offshore. Investors will receive no more information, or protections. Developers have no additional safeguards for decentralized systems. Banks are stuck with stablecoins able to pay rewards (yield). There are zero ethical guardrails for government employees and crypto. The list goes on. But mostly I just feel for the countless folks in the industry and across the House and Senate (of both parties) that worked on this for so long, and the light of American leadership dimming just a tad. Onwards

A share should still be a share, even onchain. @pattersonscott and @olgakharif at @Bloomberg break down the flavors of "tokenized stock" out there now. Superstate partners with issuers, tokenizes real shares, and keeps all shareholder rights intact.

Codifying digital asset market structure through Congress remains the most durable and fulsome solution But @SECGov already has the existing authority to bring securities markets onchain @SECPaulSAtkins said it yesterday "with or without" CLARITY, the SEC will deliver on promises to bring markets onchain

FWDI leads all tokenized stocks in onchain deposits at $20M, all of it sitting in Superstate's @Kamino market. On Kamino, holders can borrow USDC against FWDI (@FWDInd) and put it to work. Onchain shares can do more than trade. Explore the market:

This is a Napster moment for stocks. Breaking the old model is easy. Building what replaces it is hard, and that's what native tokenization is: not a wrapper for the old system, but its replacement. More from @jeffjohnroberts at @FortuneMagazine:

A stock trade looks instant. Behind it: intermediaries, a full business day to settle, records reconciled by hand. A tokenized wrapper doesn't upgrade this plumbing. Tokenize the actual share, and market plumbing gets upgraded. The full breakdown:

“Expanding what investors can hold, use, and build with onchain.” The universe of onchain finance keeps growing. @DefiantNews has the latest on @ValinorDigital's fund tokenized via Superstate:

Introducing VBDC: Valinor’s first tokenized fund, offering institutional private credit returns with daily liquidity, issued in partnership with @SuperstateInc. We saw unmet demand for an onchain yield product with broad diversification, private credit returns, and daily redemptions. VBDC delivers this by packaging “smart beta” exposure to publicly traded private credit portfolios from large U.S. asset managers. Visit for more information and to subscribe. Read more here:

"Tokenized equities" can mean many things. At Superstate, it means the real, actual shares of a public company, only onchain. Not a new asset pretending to be an old one. The real asset, upgraded. @rleshner explains at @rwasummit.

Crypto basis is back! And @Bitwise USCC Fund tokenized by @SuperstateInc has been performing strongly With one click, 3F now enables users to access customizable leverage on USCC (up to 17x) No more manual looping or the operational friction associated with leveraging RWAs Explore on