Figure Markets Launches SEC-Registered Yield-Bearing Stablecoin YLDS
Figure Markets has launched YLDS, the first SEC-registered public security USD stablecoin on a blockchain. Key details include:
- YLDS pays an interest rate of secured overnight financing rate (SOFR) minus 0.50%
- Transfers occur peer-to-peer via the Provenance blockchain using Figure Markets’ self-custody wallets
- The launch follows Circle's recent acquisition of Hashnote, enhancing yield-bearing collateral options
- Stablecoins' market capitalization is approximately $222 billion, with around 149 million holders
- Onchain real-world assets (RWAs) total about $17.5 billion
- S&P Global analysts predict regulatory developments will increase the adoption of regulated stablecoins
Current trends indicate a potential shift from unregulated to regulated stablecoins as legislation evolves in the US.