SEC Approves First Yield-bearing Stablecoin
Figure Markets has announced that the US Securities and Exchange Commission has approved YLDS as the first yield-bearing stablecoin registered as a public security.
YLDS provides an interest rate determined by taking the Secured Overnight Financing Rate (SOFR) and subtracting 0.50%.
With the current SOFR at 4.35%, YLDS offers an annual yield of 3.85% APR. Interest accrues daily and is paid monthly, either in USD or in YLDS itself.
Investors can trade YLDS using USD or other stablecoins on Figure Markets around the clock, with the option to convert to fiat currency during US banking hours.
Figure Markets, a fintech company focused on blockchain-based solutions, developed YLDS to merge the stability of stablecoins with the ability to earn interest, providing steady income while maintaining regulatory compliance through its SEC registration.
