Superstate USTBRWA-006LOW4.6
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Issuer Intelligence Profile · RWA-006

Superstate USTB

Atlas Verdict

One of the cleanest institutional-grade RWA implementations currently available. Combines traditional fund legal protections with blockchain-native transfer rails, minimizing structural risk while maintaining high transparency. Represents a benchmark model for compliant tokenized treasury products.

Superstate USTB is a SEC-registered 40-Act fund offering tokenized exposure to short-term U.S. Treasury securities. Operating under registered investment adviser framework, Superstate provides institutional-grade treasury access with on-chain settlement capabilities. The fund utilizes BNY Mellon as primary custodian and implements AllowlistV3 compliance infrastructure for investor whitelisting. USTB has achieved over $1 billion in total value locked, positioning it among the largest regulated RWA treasury products. The structure enables daily liquidity with T+1 settlement while maintaining full SEC compliance and investor protection frameworks.

AUM / Size~$1.07B
Risk Score2.6
Verification4.6
BadgeATLAS MONITORED
Risk2.6
Transparency9.9
Verification4.6
TREASURYATLAS MONITOREDTokenized Treasuries
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Risk LevelLOW
CategoryTokenized Treasuries
JurisdictionUnited States
Chain Footprint1 Chain

Issuer Identification

Live Atlas SectionS0Updated 2026-03-31 11:15:20.038+00

Issuer ID: RWA-006 | Legal Issuer: Superstate LLC | Parent: Superstate Holdings, LLC (Delaware) | Asset Class: TREASURY | Structure: SEC 40-Act Registered Investment Company; Tokenized Fund | Jurisdiction: United States | Launch: 2023 | Primary Chain: Ethereum | Investor Access: KYC/AML WHITELISTED | Regulatory: SEC REGISTERED INVESTMENT ADVISER; 40-ACT FUND | Transparency: HIGH DISCLOSURE

Issuer Overview

StructureTokenized fund
Asset ClassTREASURY
Investor TypeInstitutional / Qualified Purchasers
Min InvestmentNot public
Token StandardERC-20 Permissioned
Coverage StatusLive sections synced • 2026-03-31 15:56:00.168+00

Chain Infrastructure

Chain Footprint1 Chain
Chain Count1 chain
All Deployed Chains
ethereum

Market Position

Live Atlas SectionS12Updated 2026-03-31 15:54:48.641+00
Superstate USTB positions as a premium institutional treasury token with $1.1B+ AUM, ranking among top 3 tokenized treasury products alongside Franklin OnChain US Government Money Fund (FOBXX) and BlackRock USD Institutional Digital Liquidity Fund (BUIDL). Differentiates through SEC 40-Act registered fund structure versus trust-based competitors, providing traditional fund investor protections. Targets institutional DeFi protocols and corporate treasuries through direct institutional sales and integration partnerships with platforms like Compound, Aave. BNY Mellon custody arrangement signals institutional-grade infrastructure. AllowlistV3 compliance system balances institutional access with regulatory requirements. Primary competitive advantage is regulatory clarity and traditional fund governance structure, appealing to institutions requiring familiar regulatory frameworks over newer trust structures used by competitors like Mountain Protocol (USDM).
Atlas ClassificationBlockchain-native treasury fund with direct government exposure
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