Woo X, a cryptocurrency exchange, has introduced tokenized United States Treasury Bills (T-Bills), becoming the first platform to offer this service to retail investors. The exchange has launched RWA Earn Vaults, which allow users to earn yield by holding Circle’s USD Coin (USDC). These vaults, backed by U.S. T-bills, offer an annual percentage rate (APR) between 4.5% and 4.7% to USDC holders. The partnership between Woo X and OpenTrade, a tokenization platform supported by Circle, facilitated the launch of this yield-earning product. Circle, the issuer of the world’s second-largest stablecoin, USDC, currently has a market capitalization of $34 billion, trailing behind Tether (USDT) with over $109 billion. CoinGecko reported that RWAs were the second most profitable narrative in the crypto market during Q1 of 2024. Institutional interest in the RWA sector has grown, with BlackRock launching a USD Institutional Digital Liquidity Fund worth over $298 million. Tokenization of U.S. Treasurys has reached over $1.15 billion through various products as of April 22, according to Dune data. Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) is currently the largest treasury tokenization fund, valued at over $390 million. Tokenization is expected to revolutionize traditional finance, and its impact on the industry is being closely watched.
Woo X Exchange Unveils World's Inaugural Tokenized T-bills for Retail Investors