Woo X, a cryptocurrency exchange, has improved its U.S. Treasury Bills-backed yield-earning products so that customers can now withdraw interest daily instead of waiting the seven to 28 days usually associated with T Bills.
Benefits of this upgrade by Woo X
RWA Vaults, the upgraded version of RWA Vaults, allows users to withdraw daily interest backed by Treasury Bills on their USDC. Woo X, along with partners OpenTrade, claimed bragging rights as the first exchanges to offer T Bill interest bearing products for retail customers.
Tokenisation, especially for bank-grade assets such as U.S. Treasuries, has gained popularity due to the interest rate increase.
The RWA Earn vaults have been built with the assistance of OpenTrade’s tokenized yield specialists. Retail and institutional users can now withdraw the daily interest that accrues from depositing USDC in the vaults without any term.
OpenTrade CEO Dave Sutter said in an interview: “You can earn the risk-free rate of return by using the same application that you use to trade today and enter and exit at any time.” This is a better experience than traditional finance products. This is a way to give the user maximum flexibility and safety to earn USDC yields.
Woo X, Woo X’s innovation partner for the OpenTrade project, has links with Center, the now-dissolved partnership between USDC issuer Circle, Coinbase and the Marco Polo project.
Also Read: Top Crypto Tools in 2024
