Digital Asset Marketplace Figures Markets has launched YLDS, the first stablecoin that carries the performance registered as a public security offer with the United States Stock Exchange and Securities Commission (SEC), the company said Thursday.
The YLDS Stablecoin, issued through the Certificate Corporation of Figures, operates in the block chain of origin and accumulates interests daily, paid every month in US dollars or tokens and tokens ylds. It is backed by the same values as Prime Money Market Fonds and pays holders a yield at an annual rate of the night financing rate (Sof) insured less 50 basic points.
Token can be transferred in pairs and exchange for dollars or other stable throughout the day, with fiducias ramps available during the banking hours of the United States.
Stablecoins shuddered a class of assets of $ 200 billion and are increasingly popular for cross -border payments and transactions. However, the stable leaders in the market such as USDT and USDC generally do not pay the holders won in reserve assets, predominantly Treasury bonds of the United States. That is where the tokenized versions of monetary market funds or investment strategies such as Buidl de Blackrock, Benji by Franklin Templeton or the USDE of Ethena enter the market: they are increasingly used as guarantees or in cash in the chain to gain performance .
Read more: Tokenized treasures: A change of game for warranty in cryptographic markets
Figures Markets is the digital asset arm of figures technologies, a company co -founded by Mike Cagney, the former Sofi CEO. The firm has played a key role in the tokenization of the real world asset based on blockchain (RWA), processing more than $ 41 billion in transactions and causing $ 11 billion in the domestic capital credit line using the block chain of origin. The figure filed the Papele to the SC to launch an offer of performance stablcoin in October 2023.
The company expects YLDs to attract the interests of developers who seek to integrate stable digital assets with performance in decentralized financing (DEFI) and payment applications.
“We see tremendous applications for YLDs,” said the CEO of Figures Markets, Mike Cagney, in a statement. “The exchange guarantee, cross -border remittances and payment rails are immediate opportunities, but this is only the beginning of a larger change of traditional finance to blockchain.”
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