YLDS Yield-Bearing Stablecoin

YLDS is the world's first SEC-registered yield-bearing stablecoin, issued by Figure Certificate Company (FCC), a wholly owned subsidiary of Figure Markets Holdings, Inc. Designed for both institutional and retail investors seeking yield on dollar-denominated holdings, YLDS maintains a fixed price of $0.01 per unit while distributing interest to holders daily and paying monthly.

Product Overview

YLDS earns interest at the overnight Secured Overnight Financing Rate (SOFR) minus 35 basis points, with a floor of 0.00%. As of March 2026, the effective APY is approximately 3.27%. Reserves are managed by Figure Investment Advisors LLC (an SEC-registered investment advisor), with live reserve ratio reporting — over $570M total reserve value at 100.17% coverage. YLDS is backed by US Treasury securities and other qualified assets, functioning as a regulated tokenized treasury yield product.

Key Features

• SEC-Registered Security — Accessible to both retail and qualified institutional investors under full SEC oversight
• Daily Accrual, Monthly Distribution — Interest accrues daily and is paid monthly, suitable for treasury cash management
• 24/7 Liquidity — Buy or redeem YLDS at any time, or trade directly for Bitcoin on Figure Exchange
• Peer-to-Peer Transfers — Transfers natively on Provenance Blockchain without intermediaries or waiting periods
• Fixed Price Stability — Maintains a stable $0.01 price as a regulated stablecoin alternative
• DeFi Composability — Usable as collateral in Democratized Prime lending pools or as funding for OPEN blockchain equity purchases

Use Cases

YLDS serves institutions and DAOs seeking yield on stablecoin holdings, as a treasury management vehicle replacing non-yielding stablecoins (USDC, USDT), and as a composable building block within Figure's broader DeFi ecosystem on Provenance Blockchain.