Theo launches tokenized silver backed by $40M in active leases

Theo, the full-stack tokenization platform behind some of the fastest-growing real-world asset products in crypto, is adding silver to its commodity shelf. The new product is backed by $40 million in active leases, extending the same playbook the company used to build yield-bearing gold and Treasury tokens into a metal that has long been the quieter sibling in the precious metals family. For a platform that scaled its tokenized Treasury product, thBILL, past $200 million in total value locked and racked up roughly $1 billion in cumulative trading volume, the silver launch represents a logical next step. It also marks one of the more substantial entries into a tokenized silver market that, compared to gold, has been notably thin on institutional-grade offerings. How Theo’s commodity playbook works The model was first tested with thGOLD, which launched in January 2026. That product generates yield from loans backed by physical gold inventories held by retailers like Mustafa Gold, offering an initial return of around 2%. It’s a structure that turns a traditionally non-yielding asset into something that behaves more like a fixed-income instrument. The silver product appears to follow t...