Crypto Exchange Woo X Allows Daily Interest Withdrawals From T-Bill-Backed Earn Vaults

Enhanced RWA Vaults allow users to withdraw Treasury Bond-backed interest on their USDC on a daily basis.

Woo X and its partners OpenTrade have earned the honor of being the first exchange to offer T-Bill interest-bearing products to retail customers.

Cryptocurrency exchange Woo X has upgraded its yield-earning products backed by U.S. Treasury bonds, allowing customers to earn interest daily instead of waiting seven or 28 days as with Treasury bonds.

Tokenization, particularly involving bank-grade assets such as U.S. Treasury bonds, has become popular thanks to increases in interest rates and increased innovation from traditional financial firms and startups.

Woo X RWA Earn Vaults, created with the help of tokenized yield specialists OpenTrade, now allow retail and institutional users to withdraw daily interest earned by depositing their USDC stablecoins into the vaults with no maturity date, the companies said on Monday.

“You can now earn risk-free returns on the Woo X exchange with the same app you already use today, and you can get in and out whenever you want,” OpenTrade CEO Dave Sutter said in an interview. “It’s an experience that’s even better than what you’d see with traditional financial products. It basically gives the user the ultimate flexibility to earn returns on USDC with maximum security.”

Woo X’s innovation partner in the OpenTrade project is connected to Center, the now-defunct collaboration between USDC issuer Circle and Coinbase, and further back to the Marco Polo enterprise blockchain project.