> For the complete documentation index, see [llms.txt](https://docs.theo.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.theo.xyz/products/thbill.md).

# thBILL

thBILL is an onchain money market instrument giving holders exposure to short-term US treasury rates and commercial paper. It can be minted instantly and redeemed in T+1 days.

<div data-with-frame="true"><figure><img src="https://1433280965-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FC2o2dJlijOInJR8UAhrX%2Fuploads%2FMWuS06RJ0175Ihzr8YNM%2FthBILL%20%E2%80%94%20Structure%20w_%20Partners%20(16_9)%20%E2%80%94%20No%20Fund%20Partners%402x%20(1).png?alt=media&amp;token=4bdddc89-9a1f-43e9-a203-f888b729a802" alt=""><figcaption></figcaption></figure></div>

thBILL was built in collaboration with [Wellington Management's ULTRA](https://libeara.com/stable-and-theo-commit-over-100m-to-ultra-tokenised-by-libeara/) fund and [Fidelity International's FILQ](https://x.com/Theo_Network/status/2071948147836788858) fund. Both underlying funds are [AAAf rated](https://www.spglobal.com/ratings/en/regulatory/article/-/view/sourceId/101671335) and maintain custody at Standard Chartered and JP Morgan respectively.&#x20;