The CEX says RWUSD aims to \u201cbenchmark yields in RWAs\u201d like U.S. T-Bills, but the product isn\u2019t available to U.S. traders.<\/p>\n
Binance<\/a>, the largest cryptocurrency exchange by daily trading volumes, unveiled a new product that lets users earn yield on their stablecoin deposits, \u201csupported by\u201d U.S. Treasuries, according to an official announcement<\/a> today, July 28. <\/p>\n The latest addition to the CEX\u2019s suite of \u201cSimple Earn\u201d products for generating passive income, RWUSD represents a 1:1 value of the stablecoins \u2014 such as USDC<\/a> and USDT<\/a> \u2014 that a user deposits into the product. <\/p>\n Binance\u2019s announcement notes that the APR (annual percentage rate) for RWUSD can change at the exchange\u2019s discretion, but the firm said it \u201cmay offer up to 4.2%\u201d for the first 30 days after launch. \u201cThe APR is determined at Binance\u2019s discretion and aims to benchmark yields in RWAs such as tokenized U.S. Treasury Bills,\u201d the announcement reads. <\/p>\n Per the announcement, rewards are paid out in RWUSD daily and balances can be redeemed 1:1 for USDC only. Binance\u2019s announcement notes that the product \u2014 which is not an asset that can be traded or withdrawn from the CEX \u2014 is not available to U.S. users. EU users, however, can evidently participate: regarding European users, the exchange only notes that USDT is not available in the EU, given its non-compliance with MiCA regulations<\/a>. <\/p>\n The announcement clarifies that the yield for RWUSD comes from income across Binance\u2019s broader ecosystem, including investments in tokenized RWAs<\/a> like U.S. Treasuries. <\/p>\n Binance says the driver behind RWUSD is to offer users a relatively stable way to earn yield. \u201cIt aims to perform consistently in both rising and falling market conditions,\u201d the announcement notes. <\/p>\n RWUSD is part of a growing line of Binance products that offer daily rewards, including BFUSD and LDUSDT. <\/p>\n BFUSD was launched in November 2024 as a new margin asset for futures trading that earns rewards, The Defiant previously reported<\/a>. And then in April 2025, LDUSDT<\/a> was also unveiled as a yield-bearing margin asset for its futures trading platform. <\/p>\n While Binance emphasized that RWUSD is \u201cnot a stablecoin or a claim on any real-world assets, underlying security, token, or financial instrument,\u201d the product arrives at a time when tokenization and RWAs are gaining significant traction in the crypto sector.<\/p>\n Total on-chain RWA value currently stands at over $25 billion \u2014 a 194% increase from $8.5 billion in January 2024, according to data from RWAxyz<\/a>. Of this amount, U.S. Treasuries account for $6.79 billion. <\/p>\nChasing Yield<\/h2>\n