Theo launches thBill, connecting on-chain capital with U.S. Treasuries through technical integration with Fundbridge, Libeara and other institutions

Theo, an institutional investment platform, announced the official launch of its Beta version and the launch of its core product thBill. Through technical integration with Libeara, asset management giant Wellington Management Company and Singapore fund service agency FundBridge Capital, Theo has successfully opened up a channel for on-chain capital to invest in tokenized US Treasury funds. This move marks an important step in Theo's strategic goal of connecting on-chain capital with traditional financial markets.

ULTRA is a token-native fund supervised by Singapore-based FundBridge Capital and sub-managed by Wellington Management, which uses Libeara’s asset tokenization technology stack. Through Theo’s platform, investors will be able to access the fund more efficiently through multiple on-chain channels and enjoy a more streamlined access process.

Currently, although the stablecoin market size has exceeded US$250 billion and is expected to continue to expand at a compound annual growth rate of approximately 17.5% by 2030, efficient ways to deploy on-chain capital are still scarce. To address this pain point, Theo launched the thBill product. thBill aims to provide institutional investors with a reliable, efficient and easy-to-use on-chain asset management tool. Through a unified access point, it significantly lowers the investment threshold, speeds up fund redemption, and comprehensively optimizes the user experience, allowing on-chain capital to seamlessly connect with traditional financial assets.

Abhi Pingle, Co-founder of Theo, said: “Connecting global markets to on-chain capital requires trusted infrastructure and partners with deep market expertise. We are honored to work with Libeara, Wellington Management Company and FundBridge Capital to advance the future of compliant on-chain finance.”

Aaron Gwak, Founder and CEO of Libeara, said: "Asset tokenization is redefining the way financial assets are issued and accessed. We are excited to work with the Theo team to provide critical infrastructure that enables compliance, security, and scalability, thereby truly reshaping on-chain capital allocators' access to traditional financial markets."

Mark Garabedian, Director of Digital Assets and Asset Tokenization at Wellington Management, said: “We have always built short-duration fixed income strategies based on rigorous risk management and deep liquidity expertise. This collaboration allows us to extend this framework on-chain, ensuring that modern asset allocators can seamlessly access traditional investment strategies and integrate them with new digital asset infrastructure.”

The collaboration between Theo, Libeara, Wellington Management Company and FundBridge Capital marks the official launch of the thBill product and lays the foundation for Theo to build institutional-grade on-chain capital deployment capabilities. In order to reduce counterparty risk and ensure that investors receive full and undiluted returns, the collaboration introduces institutional-grade safeguards in multiple dimensions such as counterparty risk, structural design and legal compliance, aiming to reduce structural risks and protect investor assets. In addition, the Theo platform also allows investors to access the above strategies through a unified interface without the need for algorithmic trading expertise or operating multiple trading platforms.

Theo

Theo is a platform for institutional investors, dedicated to connecting on-chain capital with global markets. The team members come from leading market makers and hedge fund backgrounds. The platform focuses on security, resilience and performance in its architecture, aiming to provide users with access to high-quality financial products. Theo was founded by former Optiver and IMC Trading traders and completed a $20 million financing in April 2025, led by Hack VC and Anthos Capital. Investors from traditional financial giants such as Citadel, Jane Street and JP Morgan also participated in this round of investment.

Libeara

Libeara is an asset tokenization platform incubated by Standard Chartered SC Ventures, aiming to create a more accessible, transparent and secure financial market. The name Libeara comes from "Liberty" and "Aerarium" (the ancient Roman Treasury and the first retail U.S. debt issuer). As a battle-proven asset tokenization platform, Libeara is promoting new investment methods through technology and innovation. The team was shortlisted for the Global Retail Central Bank Digital Currency Challenge organized by the Monetary Authority of Singapore (MAS) and provided digital platform prototypes for governments such as Hong Kong, Ghana and the Philippines.

Standard Chartered SC Ventures

SC Ventures is Standard Chartered Bank's innovation platform that drives innovation, invests in disruptive financial technologies, and explores new business models.

Wellington Management

Wellington Management is one of the world's largest independent investment management companies, serving more than 2,500 clients in more than 60 countries around the world. As of December 31, 2024, Wellington manages more than $1.3 trillion in assets, with clients including pension funds, endowment funds, insurance companies, family offices, fund sponsors and global wealth management institutions. Wellington is committed to providing excellent services to its clients through its independent private partnership system, multi-asset investment platform and collaborative culture.

FundBridge Capital

FundBridge Capital is committed to connecting capital and investment opportunities and is a trusted partner in the financial sector. Founded in 2017, the company is regulated by the Monetary Authority of Singapore and focuses on launching and managing compliant funds for high net worth clients and institutions. FundBridge has extensive experience in investment banking, wealth management and private wealth, and is committed to providing fund managers with an efficient and cost-effective platform, and providing strong compliance support through its extensive network in the Asia-Pacific region.