Figure Know-how Options (ticker FIGR) is launching YLDS, its regulated, yield-bearing security token, on the Sui blockchain. The transfer represents the primary Layer 1 deployment of the token past the Provenance blockchain.
YLDS is a debt security instrument backed by short-term Treasurys and repurchase agreements that’s registered with the U.S. Securities and Trade Fee. The token reported yields, accrued each day, paid month-to-month, equal to the Secured In a single day Financing Charge minus 35 foundation factors.
In accordance to an announcement on Tuesday, the Sui and Figure tie-up is designed to present yield for Sui’s main restrict order e book, DeepBook, whereas additionally powering the platform’s upcoming margin buying and selling. Stablecoins will mechanically be swapped into YLDS on DeepBook, the biggest SUI buying and selling venue.
“Issuing YLDS on Sui represents the start of a broader initiative to deploy SEC-compliant, yield-bearing security tokens throughout a number of blockchain networks,” stated Figure co-founder Mike Cagney, who additionally co-founded SoFi. “We’re proud to take this primary step with Sui and take away conventional intermediaries so as to degree the enjoying discipline and democratize entry to institutional-grade monetary merchandise.”
Additional, minting YLDS immediately on Sui “will in the end present a direct fiat on- and off-ramp for Sui customers, enabling entry to USD with out counting on conventional crypto exchanges,” the initiatives wrote. The corporations plan to collaborate on additional integrations involving each YLDS and SUI.
Figure, a blockchain-native capital market that connects origination, funding, and secondary market exercise, went public in September in one of many 12 months’s blockbuster crypto firm listings. In the present day, FIGR shares are buying and selling for $44.20, down barely from final week’s all-time excessive of over $49.
Disclaimer: The Block is an impartial media outlet that delivers information, analysis, and information. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in different corporations within the crypto area. Crypto trade Bitget is an anchor LP for Foresight Ventures. The Block continues to function independently to ship goal, impactful, and well timed details about the crypto business. Listed here are our present monetary disclosures.
© 2025 The Block. All Rights Reserved. This text is offered for informational functions solely. It isn’t supplied or supposed to be used as authorized, tax, funding, monetary, or different recommendation.
