• The enhanced offering allows retail users to earn Treasury bill-backed interest on their USDC, which begins accruing instantly and compounds daily
• The upgrade offers even more flexibility to users who can withdraw their USDC and accrued interest, at any time and receive their funds instantly

VICTORIA, Seychelles, July 22, 2024 (GLOBE NEWSWIRE) -- WOO X, a leading centralized crypto futures and spot trading platform, is excited to announce the launch of its upgraded Real-World Assets (RWA) Earn Vaults with the introduction of Flexible Vaults. This innovative enhancement comes in partnership with OpenTrade and further aligns with the ongoing shift towards digital finance.

Building on the success of the initial RWA-backed Earn Vaults launched in April, which enabled users to earn yield from real-world financial assets like U.S. Treasury Bills over 7 and 28-day terms, WOO X has since upgraded the RWA Earn Vault to allow users to accrue interest daily and move USDC in and out of the product with no term.

"In comparison to traditional financial products like no-penalty certificates of deposit and flexible funds, WOO X’s Flexible Vaults offer superior benefits in terms of liquidity," said Willy Chuang, COO of WOO X. "Traditional no-penalty certificates of deposit allow for penalty-free withdrawals but often come with lower interest rates and limited terms. Similarly, flexible funds provide broad investment flexibility but may not match the liquidity advantages of our Flexible Vaults. Our Flexible Vaults address these gaps by offering faster liquidity, allowing investors to redeem their investments instantly without any penalties or loss of accrued yield, and providing competitive APR rates that are aligned with our initial RWA vaults."

While these Flexible Vaults offer improved features, the yields remain entirely backed by OpenTrade’s U.S. Treasury Bill-backed yield product, which allows us to provide these enhancements while still ensuring stable and predictable returns for our users.

Key Features of the Flexible Vaults:

• No terms and daily interest accrual: Investors can now earn and redeem interest daily, without the previous 7 and 30-day term requirements.
• Instant Redemption on USDC investment and accrued interest.
• No Penalties: Early redemptions do not incur penalties or loss of accrued yield.
• Daily Compounding: Accrued yield is automatically reinvested as principal, allowing for daily compounding.

"The introduction of Flexible Vaults is a game-changer for our users, providing them with unmatched flexibility," Chuang added. "We are committed to leveraging blockchain technology to transform traditional financial markets and provide sustainable investment products. Furthermore, we plan to continue to innovate and build upon the infrastructure of the RWA vaults to further enhance our users' experience on WOO X. This includes exploring new offerings that could provide even more ways for our users to maximize their investments and benefit from the evolving digital finance landscape."

OpenTrade continues to support WOO X with its platform designed for seamless integration of RWA-backed yield products. The platform's bank-grade off-chain operations and robust legal structure are pivotal in enabling WOO X to offer these innovative investment opportunities and maintain high standards of security and compliance. OpenTrade has seen significant adoption of its white label RWA-backed USDC/EURC yield products among their clients around the globe, particularly in regions like South America, where Neobanks and exchanges have leveraged OpenTrade to meet their a high demand for dollar savings and low-risk wealth generation options and limited access to no access to this within the traditional banking sector.

"Flexible Vaults represent the next step in the evolution of RWA solutions, providing real utility value for users who now have an ‘always on’ outlet for generating stable yield on their USDC with the ability to move in and out with the click of a button," said Jeff Handler, Co-founder of OpenTrade. "We are proud to support WOO X in bringing this groundbreaking product to market and are excited by the global adoption we are witnessing. Users in countries that struggle to access dollars or safe yields on dollars, especially in South America, are finding financial empowerment through these solutions. This product is helping people around the world gain access to stable and secure investment opportunities previously unavailable to them, thus enhancing financial inclusion and stability."

To learn more about WOO X, download our app or visit WOO X

Contact us: media@woo.network

About WOO X

WOO X is a global centralized crypto futures and spot trading platform offering the best-in-class liquidity and price execution. WOO X has an average daily volume exceeding $600 million and is home to hundreds of thousands of traders worldwide. WOO X traders benefit from radical transparency through our industry-first live Proof of Reserves & liabilities dashboard and the company's mission to maintain the trust of its growing community of professional traders.

About OpenTrade
OpenTrade is an institutional grade platform for real world asset backed lending and USDC yield products. The OpenTrade platform provides FinTechs with a white label solution that allows them to power USDC and EURC yield products for their users, who can with the click of a button, and the security guarantee of a bankruptcy remote, time-tested legal framework.

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