Binance launches a yield product tied to RWAs and U.S. T-bills

Binance has launched a new yield product tied to real-world asset (RWA) benchmarks as the crypto exchange deepens its push into hybrid financial products amid growing investor appetite for stable, on-platform returns.

The offering, called RWUSD, allows users to earn up to 4.2% annual percentage rate (APR) by subscribing with stablecoins like USDT or USDC. Rewards are benchmarked against traditional fixed-income assets, most notably, tokenized US Treasury Bills, which have seen significant uptake across decentralized finance in recent months.

The exchange explicitly states that RWUSD does not constitute a stablecoin, fund, or on-chain token, and cannot be traded, transferred, or withdrawn from the platform.

“RWUSD is a principal-protected yield product that aims to offer users consistent returns in both rising and falling markets,” Binance said in its official announcement. It benchmarks against real-world assets such as tokenized US Treasury Bills and generates yield from Binance’s ecosystem and external sources.

RWUSD yield comes from tokenized treasuries

While RWUSD itself is not tokenized, it is designed to reflect this market dynamic. Yields are indirectly derived from the income earned by Binance’s treasury operations and other sources, including real-world assets like T-bills.

In practice, users who subscribe to RWUSD receive the same amount of tokens in their spot wallet at a 1:1 ratio with no fees. Rewards are accrued daily and paid out in-kind.

A key distinction is that tokens remain non-transferable and non-withdrawable. “It cannot be traded, transferred to another user’s account, or withdrawn on-chain to a DeFi wallet,” Binance noted, reinforcing its closed-loop nature.

Still, its flat APR, $5 million personal quota, and daily compounding structure mark it as a significant tool for high-value users seeking low-risk returns.

Collateral flexibility and yield stacking

Beyond passive yield, RWUSD introduces additional utility within the Binance ecosystem. The token is eligible as collateral for VIP loan services, enabling users to borrow against their RWUSD while continuing to earn interest.

To begin earning, users can subscribe through the Simple Earn section on the Binance website or mobile app. Global users can subscribe using USDT, while those in the European Economic Area are required to use USDC, reflecting regional compliance requirements.

According to reports, RWUSD is part of a wider move by Binance to develop structured earn products, similar to previous offerings like BFUSD and LDUSDT, which were tied to liquidity provisioning and tokenized short-duration notes.

The introduction of RWUSD comes at a time when crypto platforms are increasingly merging traditional finance products with blockchain-native frameworks.

Binance’s approach, however, leans toward platform-restricted synthetic yield, providing the look and feel of RWA exposure without on-chain transferability. The model allows the company to offer relatively stable returns without triggering regulatory scrutiny tied to securitization or token issuance.

By mirroring the performance of tokenized U.S. Treasuries, RWUSD creates a low-friction entry point for users seeking to benefit from sovereign yield without having to navigate DeFi protocols or direct token custody.

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