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Binance, the world’s leading blockchain ecosystem behind the largest cryptocurrency exchange by trading volume and user base, is pleased to announce it will support tokenized yield-bearing assets USYC and cUSDO through Binance Banking Triparty as well as through its institutional custody partner Ceffu, giving institutional users the additional choice of holding USYC and cUSDO off-exchange while simultaneously enjoying seamless access to the Binance platform and receiving yield on their pledged collateral.
This integration expands the range of supported collateral for institutional users beyond traditional assets such as fiat currencies and Treasury bills on Binance Banking Triparty, and beyond native crypto assets such as bitcoin on Ceffu.
Tokenization of real-world assets excluding stablecoins has increased to $24 billion in June 2025 from $15.2 billion in December 2024, and is projected to reach up to 30% of traditional finance assets worth over $400 trillion by 2034, indicating a potential exponential growth of over 100x for crypto which currently has a market cap of $3 trillion.
“Our integration of tokenized real-world assets demonstrates our continued focus to enhance user experience on Binance. By supporting USYC and cUSDO on Binance Banking Triparty as well as through our custody partner Ceffu, we are offering our institutional clients more choices to optimize their capital efficiency while balancing risk control requirements,” said Catherine Chen, Head of Binance VIP & Institutional. “Tokenization of real-world assets enables users to benefit from the inherent properties of digital assets, such as faster and cheaper settlement, 24/7 availability, and on-chain transparency, and will unlock further crypto adoption.”
“This collaboration with Binance marks a meaningful advancement in how institutions can engage with tokenized real-world assets,” said Kash Razzaghi, Chief Business Officer at Circle. “By making USYC available as off-exchange collateral with yield potential, we’re bringing capital efficiency and risk-managed optionality to institutional investors—bridging traditional finance and blockchain-powered markets.”
“We’re entering a new phase of institutional crypto adoption, where compliance focused, yield-bearing assets like cUSDO are becoming central to how capital is deployed on-chain,” said Jeremy Ng, Founder and CEO of OpenEden. "cUSDO’s integration into Binance Banking Triparty and their custody partner Ceffu showcases how institutional-grade RWAs can deliver the capital efficiency and security needed to drive meaningful participation from institutions.”
USYC is the digital representation of interests in Hashnote International Short Duration Yield Fund Ltd, a tokenized money market fund (TMMF) registered in the Cayman Islands (the “Fund”). The Fund invests primarily in reverse repurchase agreements backed by U.S. government securities. The Fund offers near-instant redemption into USDC. USYC will also be natively issued on BNB Chain, increasing its on-chain accessibility to more users.
cUSDO is a wrapped version of OpenEden OpenDollar ("USDO"), a rebasing yield-bearing stablecoin issued by OpenEden Digital, a Bermuda-licensed and regulated entity. cUSDO and USDO let holders earn yield generated from reserves backed by U.S. Treasury bills and reverse repurchase agreements.
Binance was the first crypto exchange to introduce a triparty banking solution modeled after traditional finance in 2023, enabling institutional clients to custody their trading collateral under their own corporate account with a network of regulated banking partners, while enjoying seamless access to Binance’s full suite of institutional solutions and unparalleled deep liquidity.
To meet demand, Binance has expanded its network of triparty bank partners to enable institutional clients worldwide to meet their risk controls and confidently enter crypto while scaling for growth. With Binance Banking Triparty, clients can scale their trading activity on Binance in line with their capital, directly enhancing liquidity on the exchange to benefit all users.
From now until 2026, Binance is waiving banking triparty fees and will also absorb Ceffu’s MirrorX and MirrorRSV service fees to help more institutions accelerate their adoption.
