Jai Sahu
The Woo X RWA Earn Vaults have been developed in collaboration with institutional tokenization company OpenTrade.
- Crypto exchange Woo X announces a groundbreaking initiative as tokenized Treasury Bills become accessible to retail investors for the first time.
- The platform has also recently launched index-linked meme-coin perpetuals in partnership with market maker Wintermute.
Woo X is now the first crypto exchange to offer tokenized U.S. Treasury bills to retail customers, marking a significant advancement in investment options.
The innovative product, launched on Monday and dubbed RWA Earn Vaults (referring to real-world assets), is the result of a collaboration with the London-based institutional tokenization platform, OpenTrade. Woo X Chief Operating Officer Willy Chuang heralded the launch as a notable achievement.
“For the first time, retail users on a centralized exchange can instantly access an interest-bearing account backed by U.S. Treasury Bills,” Chuang explained in an email. “This initiative bridges a crucial gap between traditional financial securities and the dynamic world of cryptocurrency, offering our users an unprecedented opportunity to engage with low-risk, high-quality financial assets in a seamless, secure, and efficient manner.”
Tokenization, particularly of bank-grade assets like U.S. Treasuries, has gained traction in part due to rising interest rates and the ongoing crypto bull run. Last year, crypto investment platform Finblox expressed plans to offer tokenized T
-Bills to retail users.
OpenTrade, known for its partnerships, was involved in Center, the now-dissolved venture between USDC issuer Circle, and has historical ties to the Marco Polo enterprise blockchain project.
Woo X has also expanded its offerings to include index-linked perpetuals that track crypto meme coins and layer-2 tokens, created in collaboration with the market maker Wintermute.