Binance integrates USYC and cUSDO as off-exchange collateral

Binance, the world’s largest cryptocurrency exchange, has announced support for tokenized yield-bearing assets USYC and cUSDO through Binance Banking Triparty and institutional custody partner Ceffu, as per the report shared with Finbold on July 24.

The integration allows institutional users to hold these assets off-exchange while accessing the Binance platform and receiving yield on pledged collateral.

The move expands the supported collateral for institutional users beyond traditional assets, such as fiat currencies and Treasury bills, on Binance Banking Triparty, and beyond native crypto assets on Ceffu. Binance will waive banking triparty fees and absorb Ceffu’s MirrorX and MirrorRSV service fees until 2026.

Tokenization of real-world assets, excluding stablecoins, has grown to $24 billion in June 2025, up from $15.2 billion in December 2024. Projections suggest it could reach up to 30% of traditional finance assets, valued at over $400 trillion, by 2034.

Executive perspectives

Catherine Chen, Head of Binance VIP & Institutional, said the integration demonstrates Binance’s focus on enhancing user experience by offering institutional clients more choices to optimize capital efficiency while meeting risk control requirements.

“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 Chen. “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.”

Kash Razzaghi, Chief Business Officer at Circle, highlighted the collaboration’s significance for institutional engagement with tokenized assets. “This collaboration with Binance marks a meaningful advancement in how institutions can engage with tokenized real-world assets,” said Razzaghi. “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.”

Jeremy Ng, Founder and CEO of OpenEden, emphasized the shift toward compliance-focused, yield-bearing assets in institutional crypto adoption. “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 Ng. “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 represents interests in Hashnote International Short Duration Yield Fund Ltd, a tokenized money market fund registered in the Cayman Islands that invests primarily in reverse repurchase agreements backed by U.S. government securities.

cUSDO is a wrapped version of OpenEden OpenDollar, a rebasing yield-bearing stablecoin issued by OpenEden Digital, with reserves backed by U.S. Treasury bills and reverse repurchase agreements.

Featured image via Shutterstock.