Hong Kong-based crypto firm Finblox has launched a new solution aimed at bridging the gap between the crypto and traditional finance worlds, in order to satisfy the growing appetite for traditional assets that generate returns among crypto investors.
Crypto Firm Finblox Launches US Treasury Bills Service
The company's latest offering takes the form of tokenized rights to US Treasury Bills (T-Bills) and gives crypto investors access to an AAA-rated financial asset.
Partnering with smart contract vault OpenEden, Finblox aims to unlock a trillion-dollar market for Web3 users.
According to the company, stablecoins have failed to deliver significant returns, and crypto loans typically carry significant risks, as evidenced by recent defaults and bankruptcies at digital asset firms.
Tokenization of US T-Bonds means the conversion of rights to these assets into digital tokens that can be traded and held within the blockchain ecosystem.
Through the Finblox platform, users can directly benefit from the return generated by these tokenized Treasury Bills.
Treasury Bills have long been considered a blue-chip financial asset that offers reliable returns and serves as a benchmark for global financial markets.
These are also debt instruments issued by the US Department of the Treasury to finance the government's short-term borrowing needs.
Investors can access Finblox's T-Bill tokens with a simple process.
Initially, they will need to buy USDC from a reputable exchange, either through Finblox or other exchanges. After completing the know-your-customer verification process, users can exchange their USDC for T-Bills on the Finblox platform.
The generated T-Bill tokens represent a portion of Treasury bills that typically offer returns ranging from 4.5% to 5.2% depending on the performance of the T-Bills.
*Not investment advice.
