Blockchain finance platform Theo launches tokenized silver backed by $40 million in active leases

Onchain finance platform Theo introduced a yield-bearing tokenized silver product backed by more than $40 million of active leases, expanding its commodities-financing business beyond gold.

The token, called thSLVR, gives holders exposure to silver while passing on income generated by lending the underlying metal to institutional borrowers, the New York-based company said in a Wednesday announcement.

Refiners, mints and industrial manufacturers routinely borrow silver to meet production needs without assuming price risk. Those borrowers pay a lease fee and later return an equivalent amount of metal. The income has traditionally accrued to bullion banks and dealers rather than investors holding silver through exchange-traded funds (ETFs) or other products.