Crypto marketplace figures markets launch a sec-registered Ani-Bearing Stablecoin as RWA Demand Soars
The Digital Asset Marketplace Figure Markets launched the YLDS, the first harvest-bearing stablecoin registered as a public security offer with the US Securities and Exchange Commission (SEC), the Company said Thursday.
The Ylds Stablecoin, released through the Figure Certificate Corporation, operates on the proven blockchain and accumulates the day -to -day interest, paid each month to either US dollars or YLD tokens. It supports the same security as the money market funds and pays back holders at an annual rate of safe financing rate of overnight (Soff) less than 50 points basis.
The token can move peer-to-peer and exchanged for dollars or other stablecoins around the clock, with fiat off-ramps available during US banking hours.
Stablecoins mushrooms in a $ 200 billion owner and are especially popular for cross-border payments and transactions. However, leader in the Stablecoins market such as the USDT and USDC do not usually pay yield holders obtained on reserve property, mainly US ark. That is where tokenized versions of money funds or investment techniques such as Blackrock’s Buidl, the Benji of Franklin Templeton or USDE of Etherna enters the market: they are increasingly used as collateral or to park the cash Cash to earn yield.
Read more: Tokenized Treasury: A game-changer for collateral in crypto markets
The figure market is the arm of the digital asset of figure technologies, a company founded by Mike Cagney, the former CEO of SOFI. The firm plays an important role in tokenization based on blockchain (RWA), processing more than $ 41 billion in transactions and derived from $ 11 billion in the home equity credit line using the provenance blockchain. Figure Filed paperwork on the SEC to launch a offering that carries Stablecoin in October 2023.
The company hopes YLDs to attract interest from developers looking to combine stable, produce digital assets in decentralized finance (DEFI) and payment applications.
“We see a huge application for the YLDS,” CEO of Figure Markets Mike Cagney said in a statement. “The exchange collateral, cross-border remittance and payment metals are immediate opportunities, but this is just the beginning of a larger transfer of traditional finances to the blockchain.”
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