SAN FRANCISCO, Feb. 20, 2025 /PRNewswire/ — Figure Markets has made a significant advancement in the decentralized finance sector with the launch of YLDS, the inaugural interest-bearing stablecoin associated with a public blockchain and registered with the Securities and Exchange Commission (SEC). This stablecoin, offered through Figure Certificate Company, a fully owned subsidiary of Figure Markets, operates at a fixed price and accrues daily interest. YLDS is built on the Provenance Blockchain, allowing for peer-to-peer transfers and is backed by the same types of securities held by leading money market funds. This launch is poised to revolutionize financial applications based on public blockchains, enabling holders to earn interest, execute peer-to-peer transactions, and engage in continuous trading around the clock. YLDS incorporates Figure Markets’s self-custody wallets, empowering users to manage their tokens independently, without the need for third-party intervention.
### Transformative Applications Ahead
Figure Markets CEO Mike Cagney expressed enthusiasm for the vast potential applications of YLDS, highlighting its use in collateral exchanges, international remittances, and payment systems as immediate opportunities. He anticipates that this innovation will act as a springboard for a broader transition of traditional finance (TradFi) onto blockchain technology. Starting today, both individual investors and institutions can acquire YLDS through Figure Markets.
### Leading in Real-World Assets
Figure Markets, in collaboration with its sister company, Figure Technology Solutions, is recognized for its leadership in the real-world asset (RWA) sector on the blockchain, having facilitated over $41 billion in RWA transactions on the Provenance Blockchain and maintaining more than $13 billion in total locked value on-chain. The introduction of YLDS is expected to enhance these figures significantly.
### Support for Developer Engagement
June Ou, the Interim Executive Director of the Provenance Blockchain Foundation, expressed excitement about supporting YLDS on the Provenance Blockchain. She anticipates that there will be considerable interest from third-party developers looking to utilize YLDS and its fiat transfer capabilities for various decentralized finance (DeFi) applications, payment solutions, and other innovative projects on the Provenance platform. Furthermore, the foundation aims to assist in integrating YLDS into other layer-one blockchain ecosystems.
### Competitive Interest Rate Structure
YLDS offers an interest rate set at the Secured Overnight Financing Rate (SOFR) minus 0.50%. Interest is accumulated on a daily basis and disbursed monthly either in USD or YLDS. Investors can buy or sell YLDS using USD and other stablecoins at any time on Figure Markets, with the option to convert to fiat currency during standard banking hours in the U.S.
### About Figure Markets
Figure Markets is committed to democratizing finance through blockchain technology, envisioning an exchange that encompasses a wide range of assets, including cryptocurrencies, stocks, bonds, and credit. By providing industry-leading leverage, margin trading, and liquidity options, Figure Markets offers its members diverse borrowing alternatives and unique investment prospects. Its decentralized custody exchange allows users to maintain control over their own assets and personal data, effectively bypassing traditional brokers, exchanges, and lenders.
This announcement does not constitute an invitation to buy or sell the mentioned securities. Investors are advised to thoroughly evaluate their investment goals, risks, fees, and expenses. Essential information is available in the prospectus from Figure Certificate Company. Investments are not insured by the FDIC and are not bank deposits or guaranteed, meaning they carry the risk of value loss. SEC registration signifies that the commission has made the offering effective but does not imply approval or endorsement of the securities or their accuracy.
