Stable (an institutional-grade blockchain built for stablecoins) and Theo (a full-stack platform connecting on-chain capital and global financial markets) today announced a joint investment of over $100 million in ULTRA, the only tokenized U.S. Treasury strategy to receive a Particula AAA rating. This substantial investment will help ULTRA gain immediate liquidity.

Institutional users will be able to participate in ULTRA trading through Theo’s thBILL, which provides on-chain access to institutional-grade short-term U.S. Treasury securities. ULTRA is powered by Libeara’s native compliant tokenization infrastructure.

Bringing Institutional-Grade Treasury Securities On-Chain This launch brings one of the most comprehensive regulated risk-weighted asset (RWA) ecosystems on-chain, enabling institutional investors to invest in short-term U.S. Treasury securities through on-chain channels. Wellington Management and FundBridge Capital manage the underlying U.S. Treasury strategy; Standard Chartered provides secure custody of ULTRA’s underlying portfolio; and Libeara provides the compliant smart contract infrastructure. Theo By providing on-chain integrated access, liquidity, and distribution capabilities, Stable enables users to access this regulated and transparent architecture backed by traditional financial safeguards.

Stable CEO Brian Mehler stated, “We designed Stable to be a foundational financial infrastructure that institutions can trust and scale upon. Our partnerships with Libera, Wellington Management, and Theo at Stable’s launch demonstrate that we are opening the door to institutional financial products that were previously inaccessible on-chain. Stable is committed to connecting stablecoin networks to the real-world financial system.”

thBILL has become one of the fastest-growing tokenized treasury products, surpassing $200 million in assets under management after becoming the third fastest to reach $100 million.

Theo co-founder TK Kwon stated, “We see a tremendous opportunity in providing on-chain access to institutional-grade financial products on an infrastructure built specifically for stablecoins. Stable’s architecture—using USDT as native gas and achieving sub-second final confirmation—solves a key friction point hindering the wider adoption of tokenized assets.”

Native, compliant tokenization and custody services, provided by Standard Chartered Bank and SC Libeara Ventures is providing the funding.

As part of the collaboration, Libeara will explore native minting infrastructure on the Stable platform to ensure the compliant issuance and continued operation of ULTRA and related products. Libeara’s digital infrastructure already supports over $1 billion in compliant tokenized assets globally.

“Tokenization redefines access, but institutional adoption requires a compliance-first, battle-tested infrastructure. Libeara provides a native, secure, and compliant technology layer to connect products like ULTRA to public blockchains, ensuring regulatory credibility and seamless operational processes from the outset,” said Aaron Gwak, founder and CEO of Libeara.

Margaret Harwood-Jones, Global Head of Funding and Securities Services at Standard Chartered Bank, said, “Standard Chartered has always been incredibly proud to be a trusted custodian of its clients’ assets. Currently, Wellington Management…” The underlying portfolio of the ULTRA Fund, managed by Wellington Management, is custodied by Standard Chartered Bank. We are excited to lead the transformation of digital assets, facilitating the integration of traditional finance with blockchain infrastructure, ensuring secure, easily accessible, and future-ready institutional assets.

A Standardized Path to Institutional RWA

“Our approach to digital assets is centered on rigorous risk management and institutional-grade execution,” said Mark Gallabedian, Head of Digital Assets and Tokenization at Wellington Management. “We are supporting FundBridge in expanding its on-chain fixed income strategy channels through the Libera platform, which prioritizes compliance, operational integrity, and accessibility for modern asset allocators.”

About Stable

Stable is a Layer 1 blockchain designed for seamless financial transactions, using USDT as its native gas token. Designed with user experience in mind, it reduces friction for end-users by eliminating the need for volatility tokens in transaction fees, making it ideal for global digital payments, remittances, and cross-border transactions. Stable has received support from Bitfinex and PayPal. Backed by ventures, Franklin Templeton, and other leading investors, stable is building real-world-scale financial infrastructure. Learn more at stable.xyz.

Institutions interested in integrating with ULTRA or building systems on the Stable platform should visit stable.xyz or email .

About Theo: Theo is an institutional-grade gateway connecting on-chain capital to global markets. Built by a team of former traders from leading market makers and hedge funds, Theo prioritizes security, resilience, and performance to provide users with access to high-quality financial products. Theo has completed a $20 million Series A funding round led by Mirana Ventures, Hack VC, and Anthos Capital, with participation from leading venture capital firms and angel investors including Citadel, Jane Street, and JPMorgan Chase. Learn more at theo.xyz.

About Libera: Libera Libera is committed to rebuilding capital markets on-chain and enabling the tokenization of real-world assets through a compliance-first approach. The company is backed by SC Ventures, the innovation arm of Standard Chartered Bank, whose mission is to reinvent the DNA of banking. To date, Libera’s infrastructure has supported the tokenization of over $1 billion in regulated assets, including the world’s highest-rated U.S. Treasury tokenized fund and Asia’s first retail money market tokenized fund. With multi-chain interoperability and institutional-grade security and governance capabilities, Libera is expanding access to real-world assets in the right way, in a transparent, regulatory, and on-chain manner.

For more information, please visit libeara.com. About Wellington Management: Wellington Management is one of the world’s largest independent investment management firms, providing trusted advisory services to more than 2,500 clients in over 60 countries. As of September 30, 2025, the firm managed more than $1.3 trillion in assets, serving clients including pension funds, endowments and foundations, insurance companies, family offices, fund sponsors, global wealth management firms, and other institutions. Wellington is committed to providing exceptional service to its clients through its unique independence (derived from its distinctive private partnership model), diverse perspectives (derived from its unified multi-asset investment platform), and a culture of continuous collaboration that fosters a relentless thirst for knowledge and rigorous academic standards. For more information, please visit wellington.com.

About Standard Chartered Bank

Standard Chartered Bank is a leading international banking group with operations in 52 of the world’s most dynamic markets. Our mission is to drive business prosperity through our unique diversified strengths, and our heritage and values ​​are reflected in our brand promise of “Constantly Serving You.” Standard Chartered Bank Limited is listed on the London Stock Exchange and the Hong Kong Stock Exchange. Standard Chartered’s history in Hong Kong dates back to 1859. Currently, it is one of the three note-issuing banks in the Hong Kong Special Administrative Region. Standard Chartered Bank incorporated its Hong Kong branch on July 1, 2004, and operates in Hong Kong as a licensed bank under the name Standard Chartered Bank (Hong Kong) Limited, a wholly-owned subsidiary of Standard Chartered Bank Limited.

For more information and expert opinions, please visit sc.com Insights section. You can also follow Standard Chartered on X, LinkedIn, Instagram, and Facebook.

About FundBridge Capital: FundBridge Capital is a trusted partner in the financial sector, connecting capital sources with investment opportunities. Founded in 2017 and regulated by the Monetary Authority of Singapore, the company focuses on establishing and managing regulated funds for high-net-worth individuals and institutions. For more information, please visit fundbridge.sg. Libeara (a blockchain platform for institutional-grade assets) and Theo (a full-stack platform connecting on-chain capital with global financial markets) today announced a joint investment of over $100 million in ULTRA. ULTRA is the only tokenized US Treasury strategy to receive a Particula AAA rating. This substantial investment will help ULTRA gain immediate liquidity.

Institutional users will be able to participate in ULTRA trading through Theo’s thBILL, which provides on-chain access to institutional-grade short-term US Treasury securities. ULTRA is powered by Libeara’s native compliant tokenization infrastructure. Bringing Institutional-Grade Treasury Bonds On-Chain: This launch brings one of the most comprehensive regulated risk-weighted asset (RWA) ecosystems onto the blockchain, enabling institutional investors to invest in short-term U.S. Treasury bonds through on-chain channels. Wellington Management and FundBridge Capital manage the underlying U.S. Treasury bond strategies; Standard Chartered provides secure custody for ULTRA’s underlying portfolio; and Libera provides the compliant smart contract infrastructure. Theo enables users to access this regulated and transparent architecture, backed by traditional financial safeguards, by providing on-chain integrated access, liquidity, and distribution capabilities. Stable CEO Brian Mehler stated, “We designed Stable to be a foundational financial infrastructure that institutions can trust and scale upon. Our partnerships with Libera, Wellington Management, and Theo from the outset demonstrate that we are opening doors to institutional financial products that were previously inaccessible on-chain. Stable is committed to connecting stablecoin networks to the real-world financial system.” TheBILL has become one of the fastest-growing tokenized treasury products, surpassing $200 million in assets under management after becoming the third fastest to reach $100 million. Theo co-founder TK Kwon stated, “We see a tremendous opportunity in providing on-chain access to institutional-grade financial products on infrastructure built specifically for stablecoins. Stable’s architecture—with USDT as its native gas and sub-second final confirmation—solves a key friction point hindering the wider adoption of tokenized assets.” Native, compliant tokenization and custody services are provided by Standard Chartered Bank and Libera of SC Ventures.

As part of the collaboration, Libeara will explore native minting infrastructure on the Stable platform to ensure the compliant issuance and continued operation of ULTRA and related products. Libeara’s digital infrastructure already supports over $1 billion in compliant tokenized assets globally.

“Tokenization redefines access, but institutional adoption requires a compliance-first, battle-tested infrastructure. Libeara provides a native, secure, and compliant technology layer to connect products like ULTRA to public blockchains, ensuring regulatory credibility and seamless operational processes from the outset,” said Aaron Gwak, founder and CEO of Libeara.

Margaret Harwood-Jones, Global Head of Funding and Securities Services at Standard Chartered Bank, said, “Standard Chartered has always been incredibly proud to be a trusted custodian of our clients’ assets. Currently, the underlying portfolio of the ULTRA Fund, managed by Wellington Management, is custodied by Standard Chartered. We are delighted to lead the transformation of digital assets, facilitating the integration of traditional finance with blockchain infrastructure, ensuring that institutional-grade assets are securely managed, easily accessible, and future-ready.” A Standardized Path to Institutional RWA

“Our approach to digital assets is centered on rigorous risk management and institutional-grade execution,” said Mark Gallabedian, Head of Digital Assets and Tokenization at Wellington Management. “We are supporting FundBridge in expanding its on-chain fixed income strategy pipeline through the Libera platform, which prioritizes compliance, operational integrity, and accessibility for modern asset allocators.” About Stable

Stable is a Layer 1 blockchain designed for seamless financial transactions, with USDT as its native gas token. Designed with user experience in mind, Stable reduces friction for end users by eliminating the need for volatility tokens in transaction fees, making it ideal for global digital payments, remittances, and cross-border transactions. Backed by Bitfinex, PayPal Ventures, Franklin Templeton, and other leading investors, Stable is building a real-world-scale financial infrastructure. Learn more at stables.ai.

Institutions interested in integrating with ULTRA or building systems on the Stable platform should visit stables.ai or email .

About Theo: Theo is an institutional-grade gateway connecting on-chain capital to global markets. Built by a team of former traders from leading market makers and hedge funds, Theo prioritizes security, resilience, and performance, aiming to provide users with access to high-quality financial products. Theo completed a $20 million Series A funding round led by Mirana Ventures, Hack VC, and Anthos Capital, with participation from Citadel, Jane Street, and JPMorgan Chase, among others.

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