OpenTrade partners with WOO X to give Asian investors access to tokenized T-Bills
As a partner of OpenTrade that launched its tokenized T-Bills on Circle Research’s Perimeter Protocol, WOO X users will be able to access government bonds
OpenTrade announced its partnership with WOO X that will allow WOO X users to earn yield via access to tokenized T-Bills and borrow USDC-secured loans against liquid assets while continuing to operate entirely on blockchain.
“We are seeing an increasing demand for tokenized T-Bills, fueled by higher yields on US government bonds compared to those in decentralized finance (DeFi). The partnership with OpenTrade will further help strengthen our position in Asia as we give our users access to tokenized T-bills without incurring high switching costs. Our primary focus remains on providing our valued customers with access to yield products backed by real-world financial assets. We look forward to providing a suite of RWA yield products to our customers using the OpenTrade platform,” said Jack Tan, Founder and CEO of WOO.
“OpenTrade is a technological, legal, and operational bridge between traditional financial markets and the digital asset markets. Our launch today is the first step in a long journey towards flatter, smarter, more efficient, and more inclusive financial markets on which entirely new businesses and products can be built. Circle Research’s Perimeter Protocol has proven to be a key technological foundation for building a secure, scalable, and composable platform that can support such a journey,” Dave Sutter, CEO at OpenTrade said in a joint press release provided by OpenTrade and Circle.
WOO recently announced that it has completed its integration with South Korea’s CODE compliance solutions as part of its strategic move to position for growth in Asia, which is gaining significant traction due to more favorable regulations.
WOO’s strategic plan involves becoming fully compliant and making a significant impact in the South Korean market, which has the largest market for active traders in terms of volume. A crucial step in CODE compliance is adhering to the mandate that users who withdraw must have verified addresses. This initiative opens up our range of WOO products to Korean users.
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