Theo secures $100M to back gold-pegged stablecoin thUSD

Real-world asset tokenization platform Theo has secured $100 million to support its gold-pegged, yield-bearing stablecoin, thUSD. According to Cointelegraph, the funds were raised through a structured facility called the Genesis Vault. The company explained that these are not venture capital investments but rather funds deposited into the Genesis Vault to support the launch of thUSD. Theo will use the deposits to purchase tokenized gold while simultaneously shorting gold futures contracts on the CME to hedge against price fluctuations.