Theo invests $20M in Fidelity’s tokenized USD fund

Theo allocated $20 million from its onchain treasury product thBILL into Fidelity International’s USD Digital Liquidity Fund (FILQ). The allocation was made through Swiss digital-asset bank Sygnum and brings FILQ onchain for use inside thBILL.

Sygnum routed the investment via its Desygnate platform, which supports onchain fund registries, smart-contract settlement and continuous subscriptions. Chainlink’s Runtime Environment supplies FILQ’s net asset value and distribution data onchain. Daily NAV figures are received and validated by JPMorgan.

Those verified data feeds allow FILQ to be integrated into onchain workflows such as treasury management, collateral, liquidity and reporting within thBILL.

FILQ holds an Aaa-mf assessment from Moody’s and is managed by Fidelity International, which manages about $1.06 trillion in assets and operates in more than 25 locations. The fund’s tokenized structure offers regulated, institutional liquidity that can be accessed within blockchain settlement systems.

FILQ will sit alongside ULTRA, a Treasury fund issued by Wellington Management and custodied at Standard Chartered, which was already part of thBILL’s backing. With both funds, thBILL holds assets managed by Fidelity International and Wellington Management.

Theo designed thBILL to provide 24/7 access to Treasury-style liquidity for onchain investors. The company said its platform has processed more than $1 billion in cumulative trading volume across over 80,000 users in more than 60 countries. Theo’s wider product suite includes thGOLD and thUSD.

Arijit Pingle, co-CEO of Theo, said: “This is the first time a crypto-native platform has accessed Fidelity International’s tokenized fund offering. The breadth of Fidelity International’s expertise across global fixed income makes this exactly the kind of institutional foundation our product was built for, accessible 24/7 onchain.”

Emma Pecenicic, head of digital assets distribution at Fidelity International, described tokenization as a change in market infrastructure: “By combining long-standing investment expertise with digital-native infrastructure, we are helping to enable regulated, institutional-grade liquidity on-chain for markets that operate around the clock, bringing new utility to onchain investors.”