Stocks tanked today, and it seems like some funds are flowing back into crypto. After looking around, one of the crypto projects I’m still following that’s making some moves is this one: @Theo_Network spent $20 million to buy a tokenized USD fund from Fidelity International (one of the world’s largest traditional asset management firms), called FILQ. This is the first time a crypto company has been able to directly access a fund product from a major institution like Fidelity. Before, they wouldn’t even give crypto players the time of day. Now, this fund has been added to Theo’s own “on-chain treasury product” (thBILL), alongside another fund from top-tier company Wellington. This strengthens Theo’s “on-chain dollar” (thUSD) with even more institutional backing. They’re using Chainlink to put the fund’s daily price data directly on the blockchain, so everything is transparent and you don’t have to worry about any shady stuff. Even though the crypto industry is going through another ice age of skepticism, stablecoins and RWA (real-world assets) are still making progress. Wall Street used to look down on crypto, but now they’re starting to put their money and products on-chain, giving regular people and crypto users access to reliable, institution-grade financial tools. Stock trading on-chain, RWA-based investments—these kinds of innovations are definitely going to become more mainstream in the future. More big asset management firms will likely follow suit. Just saw that @buidlpad launched Theo’s USDC investment product with an 11% APY. Thinking about putting some in.