Stable and Theo Commit $100M to Tokenized U.S. Treasury Strategy ULTRA

Source: DefiPlanet Original Title: Stable and Theo Commit $100M to Tokenized U.S. Treasury Strategy ULTRA Original Link: https://defi-planet.com/2025/12/stable-and-theo-commit-100m-to-tokenized-u-s-treasury-strategy-ultra/

Quick Breakdown

• Stable and Theo commit $100M to ULTRA, a tokenized AAA-rated U.S. Treasury strategy.
• thBILL enables regulated, institutional-grade on-chain access to short-duration Treasuries.
• Collaboration combines compliance, custody, and blockchain efficiency for institutional investors.

Stable, the Layer-1 blockchain designed for institutional stablecoin transactions, and Theo, a platform connecting on-chain capital with global financial markets, announced a combined $100 million commitment to ULTRA, a tokenized U.S. Treasury strategy rated AAA by Particula. The investment aims to provide immediate liquidity for ULTRA, enabling institutional participants to access short-duration U.S. Treasuries directly on-chain.

ULTRA’s on-chain exposure is facilitated through Theo’s thBILL product, which offers regulated, institutional-grade Treasury access. The initiative leverages Libeara’s compliant tokenization infrastructure to digitize the Treasury strategy, with Wellington Management and FundBridge Capital managing the underlying portfolio. Standard Chartered provides custody for ULTRA’s assets, ensuring institutional safeguards.

Stable x Theo x Standard Chartered’s Libeara

Stable is partnering with Standard Chartered’s Libeara and Wellington Management, in conjunction with Theo_Network.

This initiative features a $100M allocation to ULTRA, backed by Libeara and Wellington Management.

— Stable (@stable) December 3, 2025

Institutional treasuries go on-chain

The launch represents one of the most comprehensive on-chain real-world asset (RWA) ecosystems to date. It integrates traditional financial reliability with blockchain accessibility, enabling institutions to transact with tokenized Treasuries in a compliant and transparent environment. thBILL has rapidly grown, surpassing $200 million in assets under management, highlighting strong institutional demand for regulated on-chain products.

Brian Mehler, CEO of Stable, emphasized that the partnership bridges stablecoin networks with traditional financial systems, enabling previously inaccessible institutional-grade products on-chain. TK Kwon, Co-founder of Theo, highlighted that Stable’s architecture, which uses USDT as native gas with sub-second finality, removes key friction points in tokenized asset adoption.

Compliance and custody at the core

Libeara provides the compliant minting infrastructure required to securely issue and manage ULTRA tokens, supporting over $1 billion in tokenized assets globally. Standard Chartered ensures the secure custody of the underlying portfolio, while Wellington Management oversees strategy execution and risk management. This collaboration establishes a regulated pathway for institutional investors to participate in tokenized fixed income, combining transparency, compliance, and operational efficiency.

The initiative signals a major step toward mainstream adoption of tokenized RWAs, demonstrating how blockchain infrastructure can integrate with traditional financial markets to deliver liquid, compliant, and accessible investment products for institutions worldwide.

Notably, Stable has also published its STABLE tokenomics, detailing an economic framework designed to secure governance, align incentives, and support long-term sustainability, while all user transactions continue to settle in USDT.