Binance (BNB), the world's largest cryptocurrency exchange based on trading volume and user count, announces the newest addition to the Binance Earn products stack. RWUSD, a unique on-chain asset, allows its holders to get up to 4.2% in annualized yield.
Binance Earn introduces RWUSD, unique yield-generating instrument
Binance (BNB), the biggest tier-1 exchange, today announced RWUSD, a principal-protected Binance Earn product backed by the strength of the Binance ecosystem that aims to benchmark returns in high quality real-world assets (RWA), such as tokenized U.S. Treasury bills.
RWUSD can be redeemed 1:1 to USDC, and users may subscribe to RWUSD with USDT or USDC. Rewards accrue to users’ subscriptions in RWUSD and are distributed daily, and users have the option to redeem instantly or in three days.
Jeff Li, VP of Product at Binance, highlights the importance of the new product for the ecosystem's progress and RWA adoption worldwide:
RWUSD is our newest Earn product and offers users a way to enjoy relatively stable rewards at market-competitive rates. Binance Earn has helped over 11 million users accrue earnings and savings with their crypto assets, and we will continue to make crypto more rewarding and engaging for users. Binance is committed to increasing the freedom of money, and the community’s positive feedback for BFUSD and LDUSDT tells us we are on the right track in developing RWUSD.
RWUSD is the latest principal protected, reward-generating product with multiple utilities issued by Binance, after BFUSDT and LDUSDT. Similar to BFUSD and LDUSDT, RWUSD is a record of a user’s subscription and rewards in the product.
In an announcement, the Binance (BNB) team stressed that RWUSD is not itself a stablecoin, security, fund, tokenized RWA or on-chain asset, and it does not represent any user right to any RWAs. It cannot be traded between users or transferred out of the Binance platform.
RWUSD can serve as collateral for Binance VIP Loans
WUSD can be utilized as collateral for Binance VIP Loans and will continue to accrue rewards for users, making it another capital-efficient product on the Binance platform.
RWUSD is backed by the Binance ecosystem and aims to benchmark returns in real-world assets, including tokenized U.S. Treasury bills, helping ensure that returns remain relatively stable and competitive over time. The projected APR at launch is up to 4.2%.
Users can subscribe with amounts up to $5 million while enjoying a consistent APR, allowing them to maximize their earnings without concern for reduced rates. RWUSD accrues daily rewards, which are distributed each day directly to the user’s Spot Account in the form of RWUSD.
Users have the option of Standard Redemption (three days at a 0.05% redemption fee) and Fast Redemption (instant at 0.1% fee). Users can also enjoy a free quota of Fast Redemption.
Vladislav Sopov
U.Today Editorial Team