Stable and Theo Commit $100M+ to Tokenized Treasury Fund ULTRA
Stable and Theo have jointly invested over $100 million in the Delta Wellington Ultra Short Treasury On-Chain Fund (ULTRA), a tokenized U.S. Treasury fund managed by FundBridge Capital and Wellington Management, powered by Libeara’s tokenization platform.
Stable, a blockchain built for stablecoins, and Theo, a platform connecting on-chain capital to global markets, are enabling institutional-grade Treasury exposure on-chain. ULTRA carries a rare AAA rating from Particula, making it one of the first major tokenized Treasury strategies available on Stable’s USDT-powered network.
The investment provides immediate liquidity for institutional investors seeking short-duration U.S. Treasury bills while highlighting sustained demand for tokenized real-world assets, a market projected to reach $10 trillion by 2030.
Theo’s thBILL token allows seamless on-chain access to ULTRA’s strategy, while Libeara ensures regulatory compliance. The fund also leverages Wellington Management’s expertise, FundBridge Capital’s fund management, and Standard Chartered’s secure custody services.
Brian Mehler, CEO of Stable, said, “This partnership opens institutional financial products that were previously out of reach on-chain, connecting stablecoin networks with real-world finance.”
TK Kwon, Theo’s co-founder, added, “Stable’s USDT-native architecture and sub-second finality remove barriers to tokenized asset adoption, fueling rapid growth for thBILL.”
Theo’s thBILL has surpassed $200 million in assets under management, while Libeara’s platform already supports over $1 billion in compliant tokenized assets globally. Aaron Gwak, CEO of Libeara, emphasized, “Tokenization redefines access, but institutional adoption requires secure, compliant infrastructure. Libeara bridges traditional finance to on-chain markets with regulatory credibility from day one.”
