Theo

1/ Theo has invested $20M into FILQ, Fidelity International's tokenized USD digital liquidity fund, built on @sygnumofficial. @chainlink brings FILQ's NAV onchain, with daily pricing data sourced from @jpmorgan. This is the first time a crypto-native platform has accessed Fidelity International's tokenized fund offering.

Deposit: #overview" target="_blank" rel="nofollow noopener">app.morpho.org/stable/vault/0…

StableEarn currently yields 13.35% APY on USDT deposits. In less than 2 months, it's grown to become the largest USDT vault outside of Ethereum Mainnet. Deposit today to earn. Link below.

1/ The second week of thUSD points are live in the app. Track everything you've earned in one place: app.theo.xyz/rewards.

Congrats to @SKhynix on the largest-ever US listing by a foreign company. Global capital reaching for the best assets wherever they sit, and a reminder of why we've been so active building in Korea. 🇰🇷

Gold leasing is one of the oldest credit markets in the world: idle gold lent to commercial users who pay to borrow it. thUSD plugs into that market for yield that's structural, not subsidized.

There is a pattern across all three yield sources: Gold: bankruptcy-remote leases, title outside any estate Hedge: CFTC-segregated margin that can't be force-closed Reserve: regulated custody, rated and audited This is the same structure institutions already use at scale.

"What actually sits underneath thUSD?” It's the first question every allocator asks. For thUSD, the answer is specific at every layer: regulated custodians, segregated accounts, bankruptcy-remote structures, and none of it at a crypto-native venue. We work with bluechip institutions as counterparties: Standard Chartered, Wellington Management, Fidelity International, and StoneX. This topic is the focus of our first edition of Examining thUSD: Institutional Counterparties. 🧵

Happy 250th Birthday, America. 🇺🇸

Our H1, from the person who built it. What shipped, what we learned, and where we go next. 👇