{"id":"thbill","title":"thBILL","content":"**thBILL** is a tokenized financial product that provides on-chain exposure to a basket of short-duration, institutional-grade U.S. Treasury bills. It is structured as an index-style token, issued on the [Theo](https://iq.wiki/wiki/theo) tokenization platform, designed to offer integrated liquidity, multi-chain accessibility, and composability within the [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) ecosystem. [\\[2\\]](#cite-id-Gm390Xg17lUoVyOb) \n\n![](https://ipfs.everipedia.org/ipfs/QmZF6zybuVdkboG7QQtA8E66eFmqTvsTh69HwmpmuW2q5f)\n\n## Overview\n\nthBILL is an index-style token designed to provide onchain exposure to short-duration, institutional-grade U.S. Treasury bills through regulated issuers. At launch, the basket consists exclusively of tULTRA, a wrapped representation of Wellington Management’s ULTRA money market fund, which holds short-term U.S. Treasury securities and is operated in collaboration with Standard Chartered’s Libeara platform and FundBridge Capital. The token uses [Theo’s](https://iq.wiki/wiki/theo) iToken standard to enforce the predefined basket composition and maintain accurate onchain valuation. As regulated institutions issue additional tokenized Treasury bill products, they can be added to thBILL, increasing diversification and broadening its exposure to Treasury instruments.\n\nthBILL is designed to address challenges that have historically limited the adoption of tokenized Treasury products. It supports liquidity provision through integrated market-making across multiple venues, multi-chain accessibility on networks including [Ethereum](https://iq.wiki/wiki/ethereum), [Base](https://iq.wiki/wiki/base), [Arbitrum](https://iq.wiki/wiki/arbitrum), and HyperEVM, and full onchain composability with lending protocols and derivative markets. Optimistic minting enables users to access the token immediately while the underlying settlement occurs, streamlining user interaction. [Minting](https://iq.wiki/wiki/minting) and redemption are restricted to [KYC](https://iq.wiki/wiki/know-your-customer-kyc)-verified participants, with redemptions settled in [USDC](https://iq.wiki/wiki/usdc) and no direct claims on the underlying assets.\n\nThe product is intended for multiple use cases: individual investors can gain institutional Treasury exposure, earn additional yield through lending, or use thBILL as collateral; institutions can access Treasury strategies onchain without operational complexity; and the broader ecosystem benefits from a yield-bearing foundation optimized for integration into more complex financial products. As the first asset launched on Theo’s tokenization platform, thBILL also serves as a template for future tokenized products, providing comprehensive ecosystem support from launch. [\\[1\\]](#cite-id-qfOauvYuTECD602V)  [\\[4\\]](#cite-id-eI5hajo17DKImN0u) \n\n![](https://ipfs.everipedia.org/ipfs/Qmf3JGapR2XfHZkMNtmDk2YwKrjKxJSPsFRm15pRT93f1q)\n\n## Features\n\n### iToken Standard\n\nthBILL follows Theo's iToken Standard. iTokens are index tokens that represent a basket of underlying assets comprising multiple tTokens and, in some cases, other iTokens. They follow the [ERC-20](https://iq.wiki/wiki/erc-20) token standard and issue receipt tokens prefixed with “i,” such as iDN. The value of an iToken is based on the combined value of its underlying assets, which is calculated using price data provided by [oracles](https://iq.wiki/wiki/oracle). Asset composition within each index can be configured according to predefined allocation ratios enforced at the [smart contract](https://iq.wiki/wiki/smart-contract) level. This structure allows a single token to represent diversified exposure to multiple tokenized assets while maintaining onchain pricing and accounting. [\\[5\\]](#cite-id-dAKgFZiFCkskI9aV) ","summary":"thBILL is a tokenized financial product representing a basket of short-duration, institutional-grade U.S. Treasury bills. It provides regulated on-chain exposure, with integrated liquidity, composability, and KYC-restricted access.","images":[{"id":"QmSfgNpuvzQJkALJsUap6EeiBAXL9Kf5feotn9vV8v9HX7","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Protocols"},{"id":"Developers"},{"id":"Ethereum"},{"id":"Stablecoins"}],"media":[{"id":"QmTJRRHH6Kz8smjCMkGLLVo8aDjzCuxyZk5BhfuoUK6Lxk","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmZF6zybuVdkboG7QQtA8E66eFmqTvsTh69HwmpmuW2q5f","type":"GALLERY","source":"IPFS_IMG"},{"id":"Qmf3JGapR2XfHZkMNtmDk2YwKrjKxJSPsFRm15pRT93f1q","name":"qsfOyFzsKxEIQIz1.webp","caption":"","thumbnail":"Qmf3JGapR2XfHZkMNtmDk2YwKrjKxJSPsFRm15pRT93f1q","source":"IPFS_IMG"}],"metadata":[{"id":"references","value":"[\n  {\n    \"id\": \"qfOauvYuTECD602V\",\n    \"url\": \"https://docs.theo.xyz/thbill\",\n    \"description\": \"thBILL documentation on theo.xyz\",\n    \"timestamp\": 1773146749032\n  },\n  {\n    \"id\": \"Gm390Xg17lUoVyOb\",\n    \"url\": \"https://theo.xyz/\",\n    \"description\": \"Theo official homepage\",\n    \"timestamp\": 1773146749032\n  },\n  {\n    \"id\": \"fdilKk7wupJ3pCTj\",\n    \"url\": \"https://www.coingecko.com/en/coins/theo-short-duration-us-treasury-fund\",\n    \"description\": \"thBILL market data on CoinGecko\",\n    \"timestamp\": 1773146749032\n  },\n  {\n    \"id\": \"eI5hajo17DKImN0u\",\n    \"url\": \"https://theo.xyz/articles/thbill-is-live-theo-s-institutional-grade-tokenized-money-market-fund\",\n    \"description\": \"thBILL launch announcement\",\n    \"timestamp\": 1773146749032\n  },\n  {\n    \"id\": \"dAKgFZiFCkskI9aV\",\n    \"url\": \"https://docs.theo.xyz/technical-reference/ttokens-and-itokens/itokens\",\n    \"description\": \"iToken standard technical reference\",\n    \"timestamp\": 1773146749032\n  }\n]"},{"id":"website","value":"https://theo.xyz/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/theo-short-duration-us-treasury-fund"},{"id":"contract_url","value":"https://etherscan.io/token/0x5fa3693e3b39d1b61c324859a43a411543891da0"},{"id":"contract_url","value":"https://arbiscan.io/token/0xfdd1358356396f4c5457f55171734f198f55a5a"},{"id":"contract_url","value":"https://basescan.org/token/0xfdd1358356396f4c5457f55171734f198f55a5a"},{"id":"commit-message","value":"\"Added wiki page for thBILL\""}],"events":[{"id":"8b94a6b8-9d8e-44ca-bb69-21079dc58b54","date":"2025-07","title":"thBILL Launch","type":"CREATED","description":"thBILL, the first asset on Theo's tokenization platform, went live, offering on-chain exposure to U.S. Treasury bills.","link":"https://theo.xyz/articles/thbill-is-live-theo-s-institutional-grade-tokenized-money-market-fund","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"operator":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum","base","arbitrum","theo"],"founders":[],"speakers":[]}}