Theo

Theo is a full-stack platform connecting onchain capital to global financial markets through tokenized real-world assets (RWAs). The platform offers institutional-grade tokenized products including yield-bearing gold (thGOLD), U.S. Treasury bills (thBILL), and an upcoming gold-backed stablecoin (thUSD), designed for both retail and institutional investors with 24/7 trading and DeFi composability.

Theo generates yield for its users through two main tokenized products: thGOLD and thBILL.

thGOLD is a token that represents gold and also earns a return. How? Theo lends physical gold to well-known jewelers and gold retailers, who pay interest on those loans. Since the gold is lent out rather than sitting in a vault, there are no storage costs eating into the returns — the interest flows to token holders.

thBILL is a token that represents a basket of U.S. Treasury bills (short-term government debt). It earns yield from the interest payments those Treasury bills naturally pay out.

Both products run on Theo's own smart-contract setup. There are two kinds of tokens:

• tTokens — single-product receipts that follow the ERC-4626 standard (a common template for yield-bearing vaults).
• iTokens — index tokens that bundle together several tTokens or other iTokens.

Because these are onchain tokens, they can be plugged into DeFi (decentralized finance) apps. That means yields can be amplified — for instance, by using the tokens as collateral in lending protocols or as part of more complex strategies.

To mint (create) or redeem (cash out) these tokens, users need to pass KYC identity checks. For thBILL, the underlying collateral takes up to 4 business days to settle.

Theo also plans to launch thUSD, a gold-backed stablecoin designed to earn yield from gold by tapping into the world's deepest derivatives markets.

Theo raised $20 million in funding announced on April 24, 2025. The round was jointly led by Hack VC and Anthos Capital. Venture capital participants included Manifold Trading, Mirana Ventures, Metalayer Ventures, SCB, MEXC, Amber Group, and Selini Capital. Angel investors came from leading traditional finance trading firms: Citadel, Jane Street, HRT, Optiver, IMC, 5 Rings, and JPMorgan.