Stablecoin revolution: YLDS offers 3.85% yield with SEC approval
Figure Markets, the stablecoin issuer, believes it is setting a new trend and could become a strong alternative to bank deposits.
The U.S. Securities and Exchange Commission (SEC) has, for the first time, approved the launch of a stablecoin that pays interest for holding.
The new token, YLDS, developed by Figure Markets, will be pegged to the U.S. dollar and registered as a security, placing it in the same category as stocks and bonds—unlike other major stablecoins such as USDT or USDC.
YLDS is designed for storage, transactions, and earning yield. Potential users will gain access to it after completing the KYC procedure.
“We see this as a very promising play. If I can hold my money independently, if these assets generate yield, and I can use them for transactions—why would I need a bank?” said Figure Markets CEO Mike Cagney.
New rules and a standard for stablecoins?
YLDS will offer a 3.85% yield, which will fluctuate based on the Federal Reserve's interest rate, setting new dynamics in the stablecoin market.
Currently, leading issuers like Tether and Circle profit from their reserves without sharing revenue with holders, whereas YLDS promises daily interest payments of 0.5%. This approach could increase competition in the stablecoin sector.
For the SEC, approving YLDS also signals a shift in its stance. Previously, the regulator had tightened control over unregulated yield-bearing stablecoins, and Figure Markets secured approval a year after filing its application.
With lawmakers now debating crypto oversight bills, the SEC’s approval of YLDS could establish a new regulatory standard for the stablecoin market.
As we wrote, the U.S. Securities and Exchange Commission (SEC) has reportedly shifted its focus to pausing cryptocurrency enforcement cases with imminent deadlines.
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