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Tokenization platform Theo launches gold-related yield-bearing stablecoin thUSD
Odaily Planet Daily reports that the tokenization platform Theo has announced the launch of a gold-related yield-bearing stablecoin, thUSD, and opened a funding pool with a maximum capacity of $100 million. The stablecoin is backed by its issued gold token, thGOLD, and generates revenue through a cash arbitrage strategy that involves holding spot gold exposure while shorting gold futures. Previously, Theo raised $15.5 million in funding led by Hack VC and Anthos Capital. (Decrypt)