“This RWA market with Morpho goals to offer these tokens utility,” Vogelsang mentioned in an interview. “Should you maintain a Treasury invoice and also you want a little bit of USDC for a pair hours, or days, or no matter, you possibly can have that entry with out having to undergo the difficult strategy of redeeming it, ready for the issuers to provide the {dollars} again and presumably pay charges. So, mainly prompt liquidity with out having to really redeem the underlying asset that you just’re utilizing to borrow.”