Stable and Theo Commit Over $100 Million to Tokenized Treasury Fund

Blockchain infrastructure provider Stable and financial platform Theo have jointly committed more than $100 million to a tokenized U.S. Treasury fund, marking a significant institutional push into onchain fixed-income markets. The Delta Wellington Ultra Short Treasury On-Chain Fund (ULTRA) offers AAA-rated exposure to short-duration Treasury bills via blockchain infrastructure, launching on Stable's network optimized for stablecoin operations.

Wellington Management serves as sub-manager for issuer FundBridge Capital, with Standard Chartered providing custody for the underlying Treasuries. Tokenization technology is supplied by Libeara, a subsidiary of SC Ventures. Institutional access is facilitated through Theo's thBILL product, which has surpassed $200 million in assets and became the third-fastest tokenized Treasury offering to hit the $100 million milestone.

The collaboration signals growing convergence between traditional finance and blockchain infrastructure, with Stable's network leveraging USDT as native gas and sub-second transaction finality to address friction points in tokenized securities.