Woo X Exchange Makes History with World’s First Tokenized T-Bills for Retail Investors
Woo X Exchange made history by introducing the world’s first tokenized U.S. Treasury bills on April 22, providing retail investors access to this traditional financial asset through its RWA Earn Vaults.
Developed in collaboration with institutional tokenization firm OpenTrade, the RWA Earn Vaults offer users the opportunity to earn yields by holding Circle’s USD Coin (USDC), backed by U.S. Treasury Bills.
The launch of Woo X’s RWA Earn Vaults comes amid a growing trend toward tokenizing real-world assets (RWAs), which CoinGecko reported as the second most profitable crypto narrative in the first quarter of 2024.
“The memecoin narrative was 4.6 times more profitable than the next best-performing crypto narrative of tokenized real-world assets (RWA) and 33.3 times more profitable than the layer 2 narratives with the lowest returns in Q1 this year,” CoinGecko analyst Lim Yu Qian said.
This shows the rising institutional interest in the RWA sector, with major players like BlackRock entering the fray with their USD Institutional Digital Liquidity Fund, which is currently worth over $298M .
According to the exchange’s announcement , the RWA Earn Vaults offer USDC holders an annual percentage rate (APR) between 4.5% and 4.7%, providing stable and predictable yields.
With these stable and predictable yields, these vaults represent a significant milestone in bridging the gap between traditional financial securities and the cryptocurrency space.
Woo X users can now earn stable, predictable yield on their USDC holdings backed by U.S. Treasury Bills without jumping through any extra hoops,” the announcement read.
1/@_WOO_X has officially launched their RWA Earn Vaults powered by OpenTrade and $USDC.
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