Bond Tokenization Stack The issuance and operation of $thBILL by @Theo_Network involve collaboration among four key partners: 1. Wellington Management: An institutional investment firm managing assets of approximately $1.5 trillion, responsible for constructing and managing the U.S. Treasury bond portfolio underlying thBILL. 2. FundBridge Capital: Collaborates with @libeara_ to tokenize the U.S. Treasury bond fund managed by Wellington Management. FundBridge also serves as the legal fund manager, ensuring regulatory compliance and assuming legal responsibilities associated with fund operations. 3. Standard Chartered’s Libeara: Provides the technological platform for converting fund shares into tokenized form (thBILL), managing the overall lifecycle of token creation and maintenance. 4. Theo: Delivers comprehensive support services, including liquidity provision, market-making, and distribution, to facilitate seamless trading experiences for institutional and other investors. 5. @LayerZero_Core : Enables the interoperability of thBILL tokens across multiple blockchain networks, including Arbitrum, Base, and HyperEVM, leveraging the Omnichain Fungible Token (OFT) standard. If @HyperliquidX provides purpose-built infrastructure tailored specifically for traders, @Theo_Network is building specialized infrastructure tailored for institutional investors. I think the issuance pipeline of $thBILL exemplifies Theo’s strategic vision.