Theo launched thGOLD, a yield-bearing tokenized gold product built on the MG999 On-Chain Gold Fund, managed by FundBridge Capital. The token provides exposure to spot gold prices under the LBMA standard and generates income through loans secured by physical gold inventories.
The MG999 fund lends capital to gold retailers, which use their inventory as collateral to access liquidity. The first participant is Mustafa Gold, a Singapore-based company. In return, the fund earns interest. The tokenization of the vehicle is handled by Libeara, a platform incubated by Standard Chartered Ventures that supports more than $1 billion in regulated onchain assets.
thGOLD will be available across several DeFi protocols, including Hyperliquid, Uniswap, Morpho, and Pendle, where it can be traded and used as collateral. Theo will provide the trading infrastructure, professional market making, and multivenue distribution to ensure liquidity across onchain markets.
The launch comes amid the expansion of the tokenized gold market, which has reached a capitalization of around $5.12 billion. Physical gold traded above $5,100 per ounce following a year of strong institutional demand.
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