Superstate Integrates Chainlink For Tokenized Treasuries Data

Superstate said the integration bolsters the composability of its USTB token within DeFi.

Superstate, an investment manager leveraging blockchain technology, integrated Chainlink’s Data Feeds product to provide price data for its tokenized treasury fund.

On Aug. 12, the company integrated Chainlink Data Feeds to provide on-chain net asset value (NAV) data for the Superstate Short Duration US Government Securities Fund (USTB). Superstate said the move improves USTB’s composability and interoperability on-chain.

“Our integration with Chainlink ensures transparent data for our investors, allowing us to focus more on our core business,” said Robert Leshner, the CEO of Superstate and founder of Compound Labs.

USTB offers holders exposure to tokenized U.S. treasury assets and has amassed $102 million in assets under management since launching in February, according to Superstate.

Chainlink Data Feeds enable real-time USTB transparency and unlock programmable use cases, including integrations with on-chain money markets for use in collateralized lending.

“Asset tokenization enhances efficiency, programmability, and transparency but requires reliable on-chain data to unlock DeFi and automation use cases,” Leshner added.

The move comes as the tokenized treasury segment is booming, with its combined market cap growing 148% to $1.91 billion since the start of 2024. The growth was buoyed by the launch of the BlackRock USD Institutional Digital Liquidity Fund (BUILD), which currently leads the sector with $513.4 million, according to Rwa.xyz.

“Superstate is playing a fundamental role in advancing infrastructure and servicing essential aspects of the rapidly growing tokenized asset economy,” said Johann Eid, Chainlink’s chief business officer. “We’re excited to see the new use cases and opportunities Superstate will unlock by integrating the Chainlink.”

Superstate was founded in 2023 and boasts $129 million in digital assets under management. The firm aims to converge legacy assets and blockchain technology.

Companies look to Chainlink for on-chain NAV data

Superstate is the latest entity to tap Chainlink to provide on-chain NAV data.

In May, the U.S. Depository Trust & Clearing Corporation (DTCC) announced that Chainlink was providing data for its Smart NAV pilot, which distributed NAV data for mutual funds on blockchain networks. The DTCC provides clearing and settlement services and is a core institution within the U.S. financial system.

In July, Sygnum Bank tapped Chainlink to provide NAV data for its on-chain representation of Fidelity International’s Institutional Liquidity Fund.