thUSD Public Minting Is LIVE

thUSD is now open to everyone.

Public minting is live: no whitelist, no caps, no application. Anyone can mint thUSD 1:1 with USDC or USDT at app.theo.xyz.

This is the next step in thUSD's phased launch. The $100M Genesis Program filled in less than 24 hours. Capital has been deployed. Yield is accruing. Now we're opening the doors.

What Is thUSD

thUSD is a yield-bearing stablecoin powered by gold.

Under the hood, deposits back a delta-neutral position: long thGOLD and short gold futures on the CME and other major exchanges. Yield is derived from two independent sources

1. Gold Carry: the spread between spot and futures prices

2. thGOLD lending: gold-denominated loans to established retailers like Mustafa Gold, one of Asia's largest gold retailers with $550M in annual revenue

   
   

The result is a position that earns gold-derived yield with no net directional exposure to gold prices. 

For a deeper breakdown of the mechanism, the stablecoin trilemma, and why gold, read the original thUSD blog post.

Built on Proven Infrastructure

thUSD isn't Theo's first product. It's built on the same infrastructure that powered thBILL, our tokenized U.S. Treasury product, to $220M+ in TVL and approximately $1B in cumulative trading volume.

The institutional stack behind thUSD:

• FundBridge Capital operates the MG999 Onchain Gold Fund that underpins thGOLD

• Libeara, a tokenization platform incubated by Standard Chartered Ventures, handles the onchain architecture

• LayerZero powers cross-chain bridging — thUSD is live on Ethereum, Arbitrum, and Stablechain

• A first-loss buffer from the fund sponsor ensures loans remain fully collateralized before depositors bear any risk

  
  

thUSD's delta-neutral structure is built on gold: the deepest derivatives market in the world. When gold prices moved sharply in March amid Strait of Hormuz tensions, the CME-based hedge structure that underpins thUSD's strategy continued to perform as designed.

Get Started

Mint thUSD now at app.theo.xyz.

Public minting is the beginning: more integrations, more utility, and more ways to earn are coming. Follow @Theo_Network on X for more updates.

For the full technical breakdown of how thUSD works, read our original blog post.

Yield figures are approximate and based on historical performance. Actual returns may vary and are not guaranteed. thUSD involves exposure to credit risk on gold retailer counterparties. Investors should review the full risk disclosures before participating.