Stable and Theo Anchor $100M+ in Tokenized Treasury Fund ULTRA
Stable and Theo have committed over $100 million to 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 bringing institutional-grade Treasury strategies on-chain. ULTRA holds a rare AAA rating from digital assets rating firm Particula, making it one of the first major tokenized Treasury products on Stable’s USDT-powered network.
The capital injection provides immediate liquidity for institutional investors seeking short-duration U.S. Treasury exposure and highlights sustained interest in 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 Treasury strategy, while Libeara ensures regulatory compliance. The fund also benefits from Wellington Management’s investment 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. Stable connects stablecoin networks with real-world finance.”
Theo co-founder TK Kwon added, “Stable’s architecture, with USDT as native gas and sub-second finality, removes barriers to tokenized asset adoption, powering rapid growth for thBILL.”
Theo’s thBILL has surpassed $200 million in assets under management, while Libeara’s infrastructure supports over $1 billion in compliant tokenized assets globally. Aaron Gwak, CEO of Libeara, stated, “Tokenization redefines access, but institutional adoption requires secure, compliant infrastructure. Libeara bridges traditional finance to on-chain markets with regulatory credibility from day one.”
