Libeara-Backed Tokenized Treasury Fund ‘ULTRA’ Raises $100M+ Led by Stable and Theo.

Stable and Theo Lead $100M+ Investment in Tokenized Treasury Fund ULTRA

Stable and Theo have jointly 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 and powered by Libeara’s tokenization platform.

Stable, a blockchain designed for stablecoins, and Theo, a full-stack platform connecting on-chain capital to global markets, are helping bring institutional-grade Treasury exposure on-chain. The fund carries a rare AAA rating from Particula, making ULTRA one of the first major tokenized Treasury strategies available on Stable’s USDT-powered stablechain.

The infusion of capital provides immediate liquidity for institutional investors seeking short-duration U.S. Treasury bills, underscoring growing demand for tokenized traditional assets. Market forecasts suggest that tokenization of real-world assets could reach $10 trillion by 2030.

Theo’s thBILL token offers seamless on-chain access to ULTRA’s underlying Treasury strategy, while Libeara ensures regulatory compliance through its native tokenization infrastructure. The fund also leverages Wellington Management’s investment leadership, FundBridge Capital’s fund expertise, and Standard Chartered’s secure custody services.

Brian Mehler, CEO of Stable, commented, “Partnering with Libeara, Wellington Management, and Theo at launch opens institutional financial products previously out of reach on-chain. Stable connects stablecoin networks with real-world financial systems.”

Theo co-founder TK Kwon added, “Stable’s USDT-native architecture with sub-second finality removes barriers to tokenized asset adoption, powering rapid growth for thBILL.”

Theo’s thBILL has already 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, noted, “Tokenization redefines access, but institutional adoption requires secure, compliant infrastructure. Libeara provides the bridge from traditional finance to on-chain markets with regulatory credibility from day one.”