The first cryptocurrency exchange to expose retail clients to tokenized US Treasury bills is Woo X, and they are proud of it.
RWA Earn Vaults, named after real-world assets, is a yield-bearing product that was revealed on Monday. It was developed in collaboration with OpenTrade, an institutional tokenization platform based in London. Willy Chuang, the chief operating officer of Woo X, called the product’s release a “significant milestone”. Chuang stated in an email that “retail users on a centralised exchange can now instantly access an interest-bearing account backed by U.S. Treasury Bills for the first time.”
This programme offers our consumers a once-in-a-lifetime chance to interact with high-quality, low-risk financial assets in a seamless, safe, and effective way by bridging a significant gap between traditional financial instruments and the rapidly evolving cryptocurrency space.
Tokenization has gained popularity, particularly when it comes to bank-grade assets like US Treasury bonds. This trend is currently aligning with the current cryptocurrency boom, partly due to interest rate increases. Retail consumers may soon have access to tokenized T-Bills, according to a statement made by cryptocurrency investing platform Finblox last year.
There are connections between OpenTrade and Centre, the defunct partnership between USDC issuer Circle, and, farther back, the Marco Polo enterprise blockchain project.
In collaboration with market maker Wintermute, Woo X recently unveiled index-linked perpetuals covering layer-2 tokens and crypto meme coins.
Recently, Woo X, in collaboration with market maker Wintermute, unveiled index-linked perpetuals covering layer-2 tokens and cryptocurrency meme coins.