Figure Markets launches YLDS, an interest-paying dollar token registered with the SEC as a public security

Figure Technology Solutions/Provenance Blockchain

Figure launched YLDS on the Provenance blockchain, a dollar token that pays interest and is registered with the SEC as a security. It is backed by the same short-term assets prime money market funds hold, and can be sent directly between wallets around the clock. Figure pitched it for exchange collateral, cross-border payments and settlement.

• Issued by Figure Certificate Company, a Figure Markets subsidiary.
• Pays SOFR minus 0.50%, accrued daily and paid monthly in USD or YLDS.
• Paying interest makes it a security under US law, hence the registration.