Theo announced the raising of 100 million dollars to launch a yield-bearing stablecoin thUSD backed by gold
The tokenization platform Theo announced it has raised $100 million to launch the gold-backed stablecoin thUSD. thUSD is pegged to the US dollar, and its reserves consist of the gold token thGOLD, which Theo launched in January this year. thGOLD is backed by a secured lending agreement between Theo and gold retailers (such as Singapore's Mustafa Gold) and can also generate returns.
In terms of revenue sources, thUSD will simultaneously obtain two types of returns: one from the underlying assets of thGOLD; the other from the spread profits obtained by shorting gold futures contracts. Theo's Chief Investment Officer Iggy Ioppe stated that under favorable market conditions, this mechanism is expected to achieve an annualized return of about 10%.
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