Theo Invests $20 Million in Fidelity’s Tokenized Fund to Expand Onchain Treasuries

Theo has allocated $20 million from its thBILL product into Fidelity International’s tokenized USD Digital Liquidity Fund. The move makes thBILL one of the few onchain Treasury products backed by instruments from both Fidelity International and Wellington Management.

FILQ will sit alongside ULTRA, a Treasury fund issued by Wellington Management and custodied at Standard Chartered.

That combination makes thBILL one of the only onchain Treasury products backed by paper from both Fidelity International and Wellington Management. For institutions, the structure offers access to familiar fixed-income managers through blockchain-based settlement and reporting rails.

Arijit Pingle, Theo’s co-CEO, said Fidelity International’s fund provides the strongest institutional foundation yet for thBILL. Pingle 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.

For Fidelity International, the allocation is an early signal that tokenized funds are beginning to find demand from crypto-native capital markets platforms. Emma Pecenicic, the firm’s head of digital assets distribution, said tokenization is becoming a foundational shift in how financial markets operate. Pecenicic commented:

Fidelity International serves more than 2.9 million customers globally, operates in more than 25 locations, and manages about $1.06 trillion in total assets.

FILQ is built on Sygnum’s Desygnate platform, which provides the infrastructure for onchain fund registries, smart-contract settlement and 24/7 subscriptions.