Institutional DeFi player OpenTrade is launching a tokenized treasury bill product for accredited investors. The company will be utilizing Perimeter Protocol, an open-source platform developed by Circle, to expand USDC into the world of real world assets (RWA).

“USDC can add a bunch of efficiencies into the traditional finance sector,” said Jeff Handler, OpenTrade’s co-founder and chief commercial officer.

Handler explained that while working at Circle and seeing how USDC worked under the hood, the founding team had a lightbulb moment and got to work building OpenTradet. “USDC can have a lot of added value for structured finance,” he said.

OpenTrade’s aim, Handler told Decrypt, is to add an extra layer of utility for the increasing interest in the digital asset space. Interest, Handler said, that has been increasing “as more people try to take advantage of yield products that aren’t a pain.”

Today’s launch showcases a 1:1 backed tokenization product. Essentially, for every tokenized t-bill an investor purchases, the company will be buying an actual treasury bill and providing an on-chain identifier for the underlying asset.

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Author: Pedro Solimano

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