Woo X, an online platform for trading cryptocurrencies, introduces a new feature enabling individual investors to buy tokenized American Treasury bills, a industry first.
In partnership with OpenTrade based in London, we’ve introduced a new product called RWA (Real-World Assets) Earn Vaults. This creation aims to bring together the security of conventional financial assets and the advanced characteristics of the crypto market.
“Willy Chuang, COO of Woo X, announced via email that for the first time, retail users on centralized exchanges can now open an account with instant access to earnings from U.S. Treasury Bills.”
The decision follows the increasing trend of converting top-tier assets into digital tokens, fueled by rising interest rates and the current cryptocurrency market surge.
It’s time to get real.
WOO X launches Real World Assets (#RWA) 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)
— WOO X (@_WOO_X) April 22, 2024
Chuang highlighted that the project “Fills an important void between conventional fiscal investments and the ever-evolving realm of cryptocurrencies. It gives our users an exceptional chance to interact with financially sound, low-risk assets in a smooth, protected, and speedy way.”
Furthermore, Woo X is broadening its product line, introducing index-linked perpetual contracts that follow crypto meme coins and layer 2 tokens in collaboration with market maker Wintermute.
In the previous year, Finblox, a different cryptocurrency platform, revealed intentions to offer tokenized Treasury investments to individual investors, much like what we have planned.
This week, WOO, the token by X project on Ethereum, has risen by 7.5%, representing a daily growth of 3.6%. Its current value is $0.32 as shown on CoinMarketCap.
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2024-04-22 20:01