SEC Approves Figure Markets YLDS Stablecoin

SEC Approves Figure Markets’ Interest-Bearing Stablecoin YLDS

• The SEC approved Figure Markets’ interest-bearing stablecoin, YLDS, marking it as the first stablecoin registered as a security.
• YLDS offers an annual yield of 3.85%, distinguishing it from USDT and USDC, which do not provide interest.
• Mike Cagney, CEO of Figure Markets, emphasized YLDS’s potential to challenge traditional banking by offering regular interest payments.
• The approval process took one year, highlighting the SEC’s thorough evaluation.
• YLDS promises daily payouts at a rate of 0.5%, potentially intensifying competition among stablecoin issuers.

The SEC’s approval of YLDS sets a new regulatory standard in the U.S. stablecoin market by introducing an interest-bearing option with a 3.85% annual yield.