Theo invests $20M in Fidelity’s tokenized money-market fund

Theo has invested $20 million in Fidelity International’s USD Digital Liquidity Fund (FILQ) through Swiss digital asset bank Sygnum and added the tokenized fund to its institutional tokenized Treasury product, thBILL.

The allocation was executed using Sygnum’s regulated banking, custody and tokenization services and was built on Sygnum’s Desygnate platform. FILQ holds diversified short-term money market instruments intended to preserve capital and liquidity and carries a Moody’s Aaa-mf rating.

Chainlink provides onchain net asset value and distribution data for FILQ through its Runtime Environment. JPMorgan receives and approves the fund’s daily NAV data, according to the parties involved.

Onchain tracking shows FILQ manages about $55.1 million in assets, suggesting Theo’s $20 million allocation represents a substantial share of the fund’s onchain holdings. Fidelity International reported $1.06 trillion in total assets under management as of March 31. Theo reported its products have processed more than $1 billion in cumulative trading volume across over 80,000 users in more than 60 countries.

Data from RWA.xyz indicates the tokenized U.S. Treasury and money-market sector expanded from roughly $6.9 billion in distributed value in late June 2025 to about $14.6 billion by late June 2026. The tracker lists 83 tokenized Treasury products held by more than 64,000 investors and shows several traditional asset managers offering tokenized funds with billions in distributed value.

Recent institutional activity in the space includes a tokenized government money market fund launched by JPMorgan on Ethereum and a distribution partnership that lets eligible institutions move between supported stablecoins and a tokenized money market fund through an onchain trading workflow.

The transaction used regulated digital banking and custody, external oracle services for onchain reporting, and established bank oversight of NAV.