Binance Lanza Rwusd, a “digital dollar” that pays interest
Binance announced the launch of RWUSD, a kind of “digital dollar” that simulates the performance of real tokenized assets (RWA), such as the United States Treasury lyrics.
Through RWUSD, investors registered in Binance can access An effective annual rate (TAE) of up to 4.2 % on their holdings. However, the TAE is subject to adjustments and can be modified at any time.
RWUSD should not be considered a stablcoin, value, investment fund or a token backed by RWA. Nor does it grant users any right on underlying assets, nor does it work as an on-chain asset.
It is an internal registration in Binance that reflects the funds signed by the user and the accumulated rewards.
To access RWUSD, users can use stable currencies such as USDT or USDC, depending on regional availability. In doing so, they receive the same amount of RWUSD in their spot account in a 1: 1 proportion, without subscription charges.
At the time of the retirement, the RWUSD also become USDC in a 1: 1 proportion, regardless of which stable currency the initial subscription has been carried out. There are two exchange options: fast or standard, each with their own commissions.
In addition, it is not possible to exchange it, transfer it to other accounts or withdraw it to external walletssuch as Binance Wallet or any decentralized finance platform (DEFI).
To participate in this product, it is necessary to have a verified account in Binance. Only users who have completed the identity verification process can access RWUSD and manage their subscriptions and exchanges within the platform.
