TESOURO now listed on Stabull | How tokenized bonds can help solve onchain liquidity

TESOURO, a tokenized Brazilian soveriegn bond, has been listed on Stabull AMM, with pools on Polygon and Base.

TESOURO are tokenized Brazilian sovereign debt issued by Etherfuse, one asset in their wider Stablebond range. Brazil has one of the largest and most liquid sovereign debt markets in Latin America, and TESOURO democratizes access to that market, in a form that behaves like a stable asset while still accruing bond interest.

What are Stablebonds

Stablebonds are tokenized short-term government bonds that behave like stablecoins. Their value comes from the underlying government securities they represent, with the token’s price reflecting the bond price appreciation. In practice, Etherfuse maintains the underlying sovereign debt portfolio and mints against those reserve assets. 

One unit of Stablebonds (e.g. 1 TESOURO) represents one unit of local currency (e.g. 1 BRL) notional exposure to short-term government bills at the time of issuance, with the principal and yield both denominated in that same currency. As the underlying bond accrues yield, that value compounds transparently onchain, while the token remains fully usable as collateral, liquidity in AMM’s, or within payment rail.

Etherfuse’s stablebond line includes:

What is TESOURO

TESOURO is a tokenized representation of  Brazilian Tesouros, or more specifically LTN bonds (Letras do Tesouro Nacional), short-term, zero-coupon fixed-rate bonds issued by the Central Bank of Brazil.  The token is backed by a portfolio of the underlying sovereign bonds, with Etherfuse publishing regular proof-of-reserves and asset attestations. The bond interest rate is around 12%.

That makes TESOURO useful for a few different audiences at once:

• Traders who want exposure to a non-USD sovereign asset.
• LPs who want to earn fees around a yield-bearing instrument.
• Treasury users who want a real-world asset with clear backing and clear economics.

For more information on TESOURO, see the Etherfuse dashboard and stablebond product page.

Stablebonds on Stabull

Non-USD stablecoins are often a harder sell for LPs because they can carry more volatility, thinner demand, and more imperfect pricing than dollar pairs. That usually means higher capital risk for the same amount of fees. Yield-bearing tokenized assets change that equation. A stablebond earns native yield from the underlying bond, so LPs are not relying only on swap fees to justify the position. They get fee income from the pool, plus the embedded yield in the asset itself, which makes the inventory easier to hold and more attractive to size.

Stabull is a good fit for TESOURO because the token’s value is supposed to move with the bond economics, not sit frozen at some generic peg. As the underlying interest accrues, the token appreciates. That means the market can drift from off-chain reference pricing when liquidity is thin, ready to be picked off by arbitrageurs. Stabull’s oracle-anchored design aligns liquidity to the tokens implied value in real time, reducing stale pricing and providing better capital efficiency for LP’s.

TESOURO pools are live on Polygon and Base

About Etherfuse

Etherfuse provides blockchain infrastructure for tokenized government bonds (Stablebonds), enabling businesses to access multi-currency financial operations backed by institutional-grade assets. The company’s platform serves remittance, B2B SaaS, payments, and import/export companies requiring efficient cross-border currency conversion without traditional banking overhead.

About Stabull

Stabull Finance is an AMM built for stable assets, FX pairs, and tokenized real-world assets. It is designed to make thin or asymmetric markets easier to trade by keeping liquidity centered around an off-chain oracle reference, which helps reduce slippage and improve capital efficiency.