The RWUSD name can create two false associations: that it is another stablecoin or a direct share in Treasury bonds. Binance’s official FAQ describes it differently: RWUSD is a yield product with a flexible subscription and daily rewards.
The source of rewards may include income from the Binance ecosystem and strategies with tokenized U.S. Treasury bonds. But the holder of RWUSD does not have a direct claim on these assets. The APR is set by Binance; it changes and is updated daily.
RWUSD cannot be withdrawn to a DeFi wallet, transferred to another user, or sold on Spot. The exit is done through repayment in USDC. Fast repayment is executed immediately, but it depends on the quota and has a fee. Standard repayment also has a fee and may take up to three business days. Current fee rates and limits must be checked on the product page before the action.
Practical verification before signing:
what exactly you contribute the assets with and what you will receive in repayment;
what repayment route fits your liquidity horizon;
where RWUSD will actually be held and whether other usage affects repayment;
whether the counterparty’s, liquidity and possible partial or total loss of the principal amount risks are acceptable.
A variable APR and mention of RWA do not make RWUSD a risk-free cash equivalent.