Digital Asset Marketplace Figure Markets has launched YLDS, the first scrap recorded as a public security offer from the Securities and Exchange American Commission, the company announced on Thursday.
The StableCoin YLDS, issued through Certificate Corporation, operates on the blockchain of the origin and accumulates interest daily, paid each month in US dollars or YLDS token. It is supported by the same securities as the money market funds prevails and pays to holders an annual rate of the financing rate overnight (SFR) less than 50 basic points.
The token can be transferred Peer-to-Peer and exchanged for dollars or other stablescoins 24 hours a day, with FIAT deposition ramps available during American banking hours.
Stablecoins have dropped to an asset class of $ 200 billion and are increasingly popular for payments and cross -border transactions. However, cutting -edge stables like the USDT and the USDC generally do not pay the performance holders won over reserve assets, mainly American treasury bills. It is there that the tokenized versions of monetary market funds or investment strategies like Blackrock’s Buidl, Franklin Templeton’s Benji or the USDE d’Ethena enter the market: they are increasingly used as guarantees or for Park on cash to win a return.
Read more: Tokenized treasure: a game changer for guarantees on cryptographic markets
Figure Markets is the arm of digital active ingredients technologies, a company co-founded by Mike Cagney, the former CEO of Sofi. The firm played a key role in the tokenization of real assets based on blockchain (RWA), treating more than $ 41 billion in transactions and creating $ 11 billion in home credit using the provenance blockchain. The figure filed documents to the dry to launch a return offer of the reserve of return in October 2023.
The company expects the YLD to attract the interests of developers who seek to integrate stable digital assets and provided in a return in decentralized finances (DEFI) and payment applications.
“We see huge applications for YLDs,” said Figure Markets CEO Mike Cagney, in a press release. “The guarantees of exchange, the shipments of cross -border funds and the payment rails are immediate opportunities, but this is only the beginning of a larger change from traditional finance to the blockchain.”
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