Franklin OnChain U.S. Government Money Fund

Woo X cryptocurrency exchange has launched tokenized United States Treasury Bills (T-Bills), claiming to be the first protocol to offer tokenized T-Bills for retail investors.
Woo X launched its real-world–asset (RWA) tokenization vaults, RWA Earn Vaults, enabling users to earn yield by holding Circle’s USD Coin (<a href="https://cointelegraph.com/usdc-price-index">USDC</a>), according to an April 22 X <a href="https://twitter.com/opentrade_io/status/1782348754617602398" target="_blank" rel="noopener nofollow">post</a>:
<blockquote data-ct-non-breakable="true">
 “With the RWA Earn Vaults, all @WOO_X users can now earn stable, predictable yield on their USDC holdings backed by U.S. Treasury Bills without having to jump through any extra hoops.”
</blockquote>
Backed solely by U.S. T-bills, RWA Earn Vaults offer between 4.5% and 4.7% annual percentage rate (APR) to USDC holders. According to the announcement:
<blockquote data-ct-non-breakable="true">
 “User subscriptions accumulate real yields, fully backed by U.S. Treasury Bills, with current APRs for 7-day and 28-day terms at ~4.5% and ~4.75% respectively.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/hashing-it-out-rwas-future-crypto">Hashing It Out: Are RWAs the future of crypto?</a>
The yield-earning product was launched in partnership with OpenTrade, a London-headquartered tokenization platform backed by Circle.
Circle is the issuer of the world’s second-largest stablecoin, USDC, which has a $34 billion market cap, behind Tether’s (<a href="https://cointelegraph.com/tether-price-index">USDT</a>) with an over $109 billion market capitalization, <a href="https://coinmarketcap.com/" target="_blank" rel="noopener nofollow">according</a> to CoinMarketCap data.
Related: <a href="https://cointelegraph.com/news/usdt-lifeline-inflation-stricken-nations-tether-ceo">USDT aims to offer a lifeline to inflation-stricken nations: Tether CEO</a>
<h2 data-ct-non-breakable="true" id="rwas-were-the-second-most-profitable-crypto-narrative-in-q1-2024">RWAs were the second most profitable crypto narrative in Q1 2024</h2>
RWAs were the second most profitable narrative in the crypto space during the first quarter of 2024, according to a recent report by CoinGecko.&nbsp; CoinGecko analyst Lim Yu Qian said:
<blockquote data-ct-non-breakable="true">
 “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.”
</blockquote>
Showcasing the growing institutional interest in the RWA sector, the world’s largest asset manager, BlackRock, launched a <a href="https://cointelegraph.com/news/blackrock-begins-asset-tokenization-launch-digital-liquidity-fund">USD Institutional Digital Liquidity Fund</a> on March 20, tickered “BUIDL,” worth over $298 million at the time of writing, <a href="https://etherscan.io/token/0x7712c34205737192402172409a8f7ccef8aa2aec" target="_blank" rel="noopener nofollow">according</a> to Etherscan.
Over <a href="https://cointelegraph.com/news/us-treasurys-tokenized-on-chain-hit-1-billion">$1 billion worth of U.S. Treasurys</a> have been tokenized through 17 tokenization products by March 28, which rose to $1.15 billion by April 22, <a href="https://dune.com/21co/tokenization-government-securities" target="_blank" rel="noopener nofollow">according</a> to Dune data. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/bce8b22b-91bb-4f07-a08a-8f5015aa0c0c.png" alt="" title="">
 <figcaption style="text-align: center;">
 Tokenized government securities. Source: Dune
 </figcaption>
</figure>
Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) remains the largest treasury tokenization fund, worth over $390 million at the time of writing, according to Dune.<iframe width="100%" height="315" src="https://www.youtube.com/embed/tN9xGZeyP74" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen data-ct-non-breakable="true"></iframe>
<figcaption style="text-align: center;">
 How tokenization will transform traditional finance | Interview with FTX US president Brett Harrison. Source: <a href="https://www.youtube.com/watch?v=tN9xGZeyP74" target="_blank" rel="noopener nofollow">Cointelegraph</a>
</figcaption>
Related: <a href="https://cointelegraph.com/news/eigenlayer-brink-potential-yield-crisis">EigenLayer on the brink of potential yield crisis</a>

Woo X exchange launches world’s first tokenized T-bills for retail

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Cointelegraph

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