Binance, the largest cryptocurrency exchange by daily trading volumes, unveiled a new product that lets users earn yield on their stablecoin deposits, “supported by” U.S. Treasuries, according to an official announcement today, July 28.

The latest addition to the CEX’s suite of “Simple Earn” products for generating passive income, RWUSD represents a 1:1 value of the stablecoins — such as USDC and USDT — that a user deposits into the product.

Binance’s announcement notes that the APR (annual percentage rate) for RWUSD can change at the exchange’s discretion, but the firm said it “may offer up to 4.2%” for the first 30 days after launch. “The APR is determined at Binance’s discretion and aims to benchmark yields in RWAs such as tokenized U.S. Treasury Bills,” the announcement reads.

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