# Overview

Theo builds tokenized products which allow users and protocols to tap into fully-collateralized stablecoin rails, delta-neutral strategies, and real-world asset exposure, all through a single interoperable system.

## thBILL

<figure><img src="https://1433280965-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FC2o2dJlijOInJR8UAhrX%2Fuploads%2FLqmDgh6ASHKhzFjOuYgN%2Fthbill-cover.png?alt=media&#x26;token=2722377f-47d4-4145-9de8-51a2916ed155" alt=""><figcaption></figcaption></figure>

[thBILL](https://docs.theo.xyz/thbill) is a basket of institutional-grade tokenized U.S. Treasury bills such as [tULTRA](https://docs.theo.xyz/thbill/tultra). Underlying tokenized assets are issued by regulated issuers such as FundBridge.

thBILL offers a crypto-native path to risk-free yield, composable with other DeFi primitives.