Figure Markets launches the first 'SEC approved' interest-bearing Stable Coin YLDS, but with one condition

The U.S. Securities and Exchange Commission (SEC) has approved the interest-bearing Stable Coin YLDS launched by Figure Markets this week. This Stable Coin not only provides users with returns but also is registered with the SEC as a security, making it the first regulated interest-bearing Stable Coin in the United States. According to Fortune magazine's report on February 18, the SEC has approved the interest-bearing Stable Coin YLDS launched by Figure Markets. YLDS is pegged to the U.S. dollar and stands out by offering users fixed income similar to bank cash savings, with the current Interest Rate at 3.85% and adjustable in the future. Registered as a security with the SEC, documents disclosed by the SEC show that YLDS has been officially registered as a security with the SEC, meaning that in the current unclear U.S. Stable Coin regulatory framework, YLDS has obtained regulatory approval and is classified in the same financial category as stocks or bonds. Figure CEO Mike Cagney expressed in an interview, "We believe this is a huge change. Just imagine if I could hold YLDS, self-custody assets, enjoy the benefits of Interest income, and use YLDS for transactions, why would I need a bank?" Enjoying Interest requires KYC. Figure Markets officially announced the launch of YLDS to users on social platform X on the 21st, stating that it is the first SEC-regulated interest-bearing Stable Coin: $YLDS, featuring: . Returns: currently around 3.85% . No stake, no unlock . Available for trading 24/7 Now, all users can obtain YLDS on Figure Markets and Provenance Blockchain Foundation, including U.S. residents and banks. However, it should be noted that although YLDS has the advantages of regulatory Compliance and providing returns, according to official announcements, users need to undergo KYC verification to purchase YLDS to prevent fraud, Money Laundering, and other illegal activities. If YLDS holders transfer this Stable Coin to other users without KYC, although they can hold the Stable Coin, they will no longer be able to enjoy the returns of YLDS. Introducing the first-ever new type of SEC-regulated, yield-bearing stablecoin that is transferable: $YLDS Yield variable at SOFR minus 50bps (current ~3.85%)No staking or lockups Buy/sell 24×7 It’s time for real assets with real value. pic.twitter.com/Yuw7igB79x — Figure Markets (@FigureMarkets) February 21, 2025 Related reports: EU MiCA approves issuance Stable Coin by 10 institutions, with Tether absent, USDT may face full delisting Citibank to offer digital asset custody services, next step is issuance Stable Coin? South Korea to advance corporate opening of virtual asset accounts in three stages, accelerating Stable Coin regulatory legislation