World

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 Taiwan-based centralized crypto exchange Woo X has launched its first<a style="color: #0000ff;" href="https://defi-planet.com/2024/01/what-are-real-world-assets-rwa-in-crypto/"> Real World Assets (RWA)</a> on the Woo Earn platform. 
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The exchange <a style="color: #0000ff;" href="https://twitter.com/_WOO_X/status/1782348710892220515">announced </a>this on Monday, April 22, lauding itself as the first CEX to introduce a ‘top-tier investment product’ to attract significant capital from the traditional financial markets into the crypto realm. 
This new product, developed in partnership with Open Trade, allows users to subscribe to USD Coin ($USDC) RWA vaults with United States Treasury Bills as the collateralized assets. 
<blockquote class="twitter-tweet"> 
 It’s time to get real. 
 WOO X launches Real World Assets (<a href="https://twitter.com/hashtag/RWA?src=hash&amp;ref_src=twsrc%5Etfw">#RWA</a>) on WOO Earn today, marking a significant milestone as the first CEX to offer a top-tier investment product designed to attract substantial TradFi capital into the crypto sphere. 
 Let’s dive in, shall we? (1/7) <a href="https://t.co/m2utm6Ljhd">pic.twitter.com/m2utm6Ljhd</a> 
 — WOO X (@_WOO_X) <a href="https://twitter.com/_WOO_X/status/1782348710892220515?ref_src=twsrc%5Etfw">April 22, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Woo X emphasized that this innovative product combines real-world assets with blockchain-based real yield, offering the convenience of a centralized exchange environment. The annual return for the vaults is based on real-time earnings from the on-chain RWA vault and will be facilitated by Open Trade and USDC. 
The exchange explained that the move to introduce United States Treasury Bills on-chain has been gaining popularity recently because it offers institutional investors a minimal risk, low friction, and low conversion cost alternative to generating real yield.&nbsp; 
In its announcement, the exchange referenced investment asset management giant BlackRock’s recent venture into the RWA space with its new fund, $BUIDL, on the Ethereum network. The firm noted that BlackRock’s entry into the RWA niche had contributed massively to the credibility boost of the new sector. 
On March 21, BlackRock <a style="color: #0000ff;" href="https://www.businesswire.com/news/home/20240320771318/en/">announced </a>the launch of the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund in collaboration with Securitize, marking its entry into the RWA sector. Bloomberg <a style="color: #0000ff;" href="https://www.bloomberg.com/news/articles/2024-03-27/blackrock-tokenized-fund-draws-160-million-in-week-since-debut">reported</a>&nbsp; that BUIDL has attracted more than $240 million from investors since its introduction. The fund invests in US Treasury bills, cash, and repurchase agreements while issuing BUIDL crypto tokens valued at $1 per coin to holders. 
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The post <a href="https://defi-planet.com/2024/04/woo-x-launches-tokenized-us-treasury-bills-for-retail-investors/">Woo X Launches Tokenized US Treasury Bills for Retail investors</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Woo X Launches Tokenized US Treasury Bills for Retail investors

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