Figure Markets, a leader in decentralized finance, has launched the first interest-bearing stablecoin native to a public blockchain, registered with the Securities and Exchange Commission. YLDS, a public security offered through Figure Markets’s wholly owned subsidiary, Figure Certificate Company, is a fixed price, daily accrual public security native to the Provenance Blockchain. YLDS can be transferred peer-to-peer and is backed by the same securities that prime money market funds hold.

YLDS marks a transformative shift in financial applications built on public blockchain, offering holders the ability to earn interest, transfer securities peer-to-peer, and transact 24×7. YLDS utilizes Figure Markets’s self-custody wallets, giving users control of the tokens without relying on third parties.

“We see tremendous applications for YLDS,” said Figure Markets CEO, Mike Cagney.  “Exchange collateral, cross-border remittances, and payment rails are some of the immediate opportunities. But we see this as a catalyst to a much larger migration of TradFi to blockchain.”

Both individuals and institutions can purchase YLDS through Figure Markets (www.figuremarkets.com). Figure Markets – working with its sister company Figure Technology Solutions  – has been a leader in the real-world asset (RWA) space on blockchain, supporting over $41B in RWA transactions on the Provenance Blockchain, with over $13B in RWA total locked value on-chain. YLDS will add to that number.

“We’re excited to support YLDS on Provenance Blockchain,” said June Ou, Interim Executive Director of the Provenance Blockchain Foundation. “We expect, and will support, significant third-party developer interest to use YLDS and its fiat rails in DeFi, payments, and other applications built on Provenance Blockchain. We will also be integral in wrapping YLDS for applications on other L1 blockchains.”

YLDS pays an interest rate of SOFR minus 0.50%. Interest is accrued daily and paid monthly in USD or YLDS. Holders can buy/sell YLDS using USD and other stablecoins 24×7 on Figure Markets, and can off-ramp to fiat during US banking hours.

Source: Figure Markets