Cryptocurrency exchange Woo X has launched the sale of tokenized US Treasury bills for retail investors. CoinDesk writes about this.
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A profitable product called RWA Earn Vaults was created in partnership with the London-based institutional tokenization platform OpenTrade. Woo X COO Willie Chuang called the product's arrival “an important milestone.”
“For the first time, retail users of a centralized exchange can instantly access an interest-bearing account backed by U.S. Treasury bills,” Chuang said in an email.
The concept of tokenization, especially when it comes to important assets such as US Treasuries, has gained popularity, partly in response to rising interest rates, and is now in line with the current cryptocurrency boom.
