Theo invests $20M in Fidelity's tokenized fund

A digital asset platform has made a significant investment into a tokenized fund managed by a major financial institution, marking a notable step in the convergence of traditional finance and blockchain technology. Theo, an onchain capital markets platform, has allocated $20 million into Fidelity International's USD Digital Liquidity Fund, known as FILQ. The transaction, executed through Swiss digital asset bank Sygnum, represents the first time a cryptonative platform has accessed this specific tokenized fund offering from Fidelity International.

The investment integrates FILQ into Theo's institutional tokenized Treasury product, thBILL. This product is designed to provide onchain investors with continuous access to Treasury-style liquidity. FILQ will sit alongside ULTRA, a tokenized Treasury fund issued by Wellington Management, making thBILL one of the few onchain Treasury products backed by paper from both Fidelity International and Wellington Management. FILQ carries a top-tier Aaamf assessment from Moody's, while ULTRA holds an AAAfS1 rating from S&P Global Ratings.

Theo's co-CEO, Arijit Pingle, stated that Fidelity International's fund provides the strongest institutional...