VICTORIA, Seychelles, Oct. 21, 2024 (GLOBE NEWSWIRE) -- WOO X, a leading centralized crypto futures and spot trading platform, has upgraded its RWA flexible term vaults in collaboration with OpenTrade, leveraging OpenTrade's deployment on Avalanche to enhance its offerings. By utilizing OpenTrade's platform, WOO X seamlessly integrates and manages RWA-backed yield within its financial products, benefiting from robust off-chain infrastructure and legal expertise.
The upgraded RWA Flexible Term Vault of WOO X and OpenTrade utilizes Avalanche's innovative L1s to enhance liquidity and lower transaction costs. This customizable and secure platform streamlines automated processes and reduces operational inefficiencies in traditional asset management, enabling users to manage their investments more effectively. With features like instant redemption and daily compounding, WOO X RWA Flexible Term Vault addresses the growing demand for flexible and stable financial solutions, as tokenized assets are projected to reach $16.1 trillion by 2030.
“As traditional finance increasingly enters the crypto space, our upgraded RWA flexible term vault on Avalanche is a significant advancement for WOO X. By offering opportunities backed by real-world assets like tokenized Treasury Bills, we enhance liquidity and lower transaction costs, positioning ourselves at the forefront of a trillion-dollar market projected by 2030,” said Willy Chuang, COO of WOO X.
“The upgraded RWA flexible term vault on Avalanche exemplifies how OpenTrade enables companies like WOO X to offer seamless access to low-risk yields backed by U.S. Treasury Bills, enhancing liquidity and showcasing the utility of RWA solutions in the evolving digital finance landscape,” said David Sutter, CEO of OpenTrade.
“WOO X and OpenTrade's initiative underscores Avalanche's dedication to revolutionizing digital finance. This development empowers users to access innovative financial products and services, taking advantage of the efficiencies and reduced costs enabled by our blockchain technology,” said Eric Kang, BD Manager at Avalanche.
Unlock Exclusive Rewards with up to 13.75% APR on RWA Products!
To celebrate this collaboration, WOO X, OpenTrade, and Avalanche are excited to launch a campaign highlighting RWA products! Users can earn a boosted yield of approximately 13.75% APR on our RWA subscription product, offering a secure and user-friendly way to achieve higher returns. This activity will run from October 21, 2024, to January 19, 2025. Click here for more details.
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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 RWA-backed lending and stablecoin 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 access them with the click of a button, and the security guarantee of a bankruptcy-remote, time-tested legal framework.
About Avalanche Blockchain Network
Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchain with high throughput on both public and private networks.
Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralized applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.
For more information, visit avax.network
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