Figure Technology Solutions’ subsidiary, Figure Certificate Company, announced that it will begin minting its SEC‑registered yield‑bearing stablecoin, $YLDS, natively on the Solana blockchain. The first user of the token will be Exponent Finance, a decentralized finance yield‑exchange platform on Solana, and the stablecoin is backed by U.S. Treasuries and Treasury repo agreements, providing a regulated, yield‑generating asset that can be used for payments, cross‑border remittance, and settlement of SOL trades.
$YLDS is the first SEC‑registered stablecoin that delivers yield to holders. The token’s backing by U.S. Treasuries and Treasury repo agreements ties its return to the Secured Overnight Financing Rate (SOFR) minus a spread, offering an approximate 3.85% annual percentage rate. The SEC’s approval of Figure Markets to issue the stablecoin classifies it as a security, giving it a clear regulatory framework that is attractive to institutional investors seeking compliant, yield‑generating digital assets.
The launch is part of a broader partnership between Figure and Provenance Blockchain to bring compliant DeFi to Solana. By integrating $YLDS with Solana’s high‑throughput network, Figure can accept SOL as collateral for crypto‑backed loans and plans to extend this to locked SOL and to adopt its liquidation‑protection option for SOL‑backed loans. The partnership also positions Figure to deepen its presence in the Solana developer community and to capture a share of the growing regulated stablecoin market on the platform.
"We see this as a way to future‑proof fiat rails onto Solana while bringing an SEC‑registered yielding stablecoin to the ecosystem," said Mike Cagney, co‑founder and executive chairman. "We are thrilled to partner with Exponent Finance as a first mover in bringing $YLDS to the Solana ecosystem. 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."
The announcement was well received by investors, reflecting confidence in Figure’s strategy to combine regulated financial products with the speed and scalability of Solana. The move underscores the company’s commitment to bridging real‑world assets into decentralized finance and positions it to capitalize on the growing demand for compliant, yield‑bearing stablecoins in the public‑blockchain space.
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