Woo X Launches RWA with U.S. T-Bills on WOO Earn
- Woo X becomes the first CEX to launch Real World Assets (RWA) on WOO Earn, partnering with OpenTrade to offer USDC RWA vaults backed by U.S. T-Bills.
- The initiative aligns with broader industry trends, as evidenced by BlackRock's venture into RWA tokenization.
Cryptocurrency exchange Woo X, today, announced on X (formerly Twitter) that it has launched Real World Assets (RWA) on WOO Earn, becoming the first centralized exchange (CEX) to offer a premier investment product aimed at drawing significant traditional finance (TradFi) capital into the cryptocurrency sector.
It’s time to get real.
— WOO X (@_WOO_X) April 22, 2024
WOO X launches Real World Assets (#RWA) on WOO Earn today, marking a significant milestone as the first CEX to offer a top-tier investment product designed to attract substantial TradFi capital into the crypto sphere.
Let’s dive in, shall we? (1/7) pic.twitter.com/m2utm6Ljhd
In partnership with OpenTrade, WOO X users now have the option to subscribe to USDC RWA vaults backed by U.S. Treasury Bills (T-Bills).
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Additionally, the crypto exchange notes that BlackRock's recent venture into RWA tokenization with its BlackRock USD Institutional Digital Liquidity (BUIDL) fund on Ethereum has significantly enhanced the credibility of this burgeoning sector.
“In line with this, the move to bring U.S. T-bills on-chain has been gaining interest, presenting institutional investors with a low-risk, low-friction, and low-switching cost way to generate real yield,” Woo X posted on X.
Furthermore, the APR for these vaults derives from real-time earnings from the on-chain RWA vault by OpenTrade and Circle’s USDC. User subscriptions are invested directly into the OpenTrade vault, earning yields from U.S. Treasury Bills, with current APRs of approximately 4.5% for 7-day terms and 4.75% for 28-day terms.
Edited by Harshajit Sarmah
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