Woo X claims bragging rights for being the first crypto exchange to offer retail customers exposure to tokenized US Treasury bills.
Announced on Monday, the high-yield product (similar to real-world assets) called RWA Earn Vaults was built in partnership with London-based institutional tokenization platform OpenTrade. Woo X Chief Operating Officer Willy Chuang described the product's arrival as a “significant milestone.”
“For the first time, individual users of a centralized exchange now have instant access to interest-bearing accounts backed by U.S. Treasury bills,” Chuan said in an email. “This initiative bridges a critical gap between traditional financial securities and the dynamic world of cryptocurrencies, providing our users with low-risk, high-quality financial services in a seamless, secure and efficient manner. It offers an unprecedented opportunity to engage with assets.”
tokenization Particularly those involving bank-grade assets such as U.S. Treasuries, have increased in popularity in part in response to rising interest rates, and now coincide with the current bull market in cryptocurrencies. Last year, cryptocurrency investment platform Finblox announced that it plans to offer retail users access to tokenized Treasury bills.
OpenTrade has links with Center, a now-defunct collaboration between USDC issuers Circle, and going back even further. Marco Polo Enterprise blockchain project.
