Binance announced the launch of a new product called RWUSD, which is backed by real-world assets and offers users a yield.
What is RWUSD?
RWUSD is a new product from Binance that offers an investment opportunity backed by real-world assets, such as tokenized U.S. Treasury Bills. The rollout for the product will begin on July 28.
Subscription Conditions and Yield
Users can subscribe to RWUSD using approved stablecoins, such as USDT and USDC. The product offers a yield of up to 4.2% APR based on the amounts deposited. Upon subscription, users will receive an equivalent amount of RWUSD in their accounts at a 1:1 ratio.
How RWUSD Works?
RWUSD is not a stablecoin, as it cannot be traded among platform users. It functions as an internal record within Binance's Earn suite, and the accrued yield cannot be transferred. However, upon redemption, users can expect to receive the same amount of yield in USDC, regardless of the initially subscribed asset.
The launch of RWUSD represents a new step in Binance's product offerings, allowing users to invest in real-world assets with a fixed yield. However, users should consider the features and limitations of this product.
