PANews reported on October 15th that Figure Technology Solutions (ticker symbol FIGR) will launch its regulated yield-generating security token, YLDS, on the Sui blockchain. This marks the token's first deployment on a Layer 1 public blockchain outside of the Provenance blockchain. YLDS is a debt security instrument backed by short-term U.S. Treasury bonds and repurchase agreements, registered with the U.S. SEC. The token offers a daily interest accrual and monthly payments equivalent to the Secured Overnight Financing Rate (SOFR) minus 35 basis points. Sui's partnership with Figure aims to generate yield for DeepBook, Sui's ecosystem limit order book, and support the platform's upcoming margin trading. On DeepBook, stablecoins will be automatically converted to YLDS. Furthermore, the project stated that minting YLDS directly on Sui "will ultimately provide Sui users with direct fiat on/off access, allowing them to access US dollars without relying on traditional cryptocurrency exchanges." The two parties plan to collaborate on further integration of YLDS and SUI.PANews reported on October 15th that Figure Technology Solutions (ticker symbol FIGR) will launch its regulated yield-generating security token, YLDS, on the Sui blockchain. This marks the token's first deployment on a Layer 1 public blockchain outside of the Provenance blockchain. YLDS is a debt security instrument backed by short-term U.S. Treasury bonds and repurchase agreements, registered with the U.S. SEC. The token offers a daily interest accrual and monthly payments equivalent to the Secured Overnight Financing Rate (SOFR) minus 35 basis points. Sui's partnership with Figure aims to generate yield for DeepBook, Sui's ecosystem limit order book, and support the platform's upcoming margin trading. On DeepBook, stablecoins will be automatically converted to YLDS. Furthermore, the project stated that minting YLDS directly on Sui "will ultimately provide Sui users with direct fiat on/off access, allowing them to access US dollars without relying on traditional cryptocurrency exchanges." The two parties plan to collaborate on further integration of YLDS and SUI.
Figure deploys its SEC-registered yield-based security token, YLDS, to the Sui blockchain
PANews reported on October 15th that Figure Technology Solutions (ticker symbol FIGR) will launch its regulated yield-generating security token, YLDS, on the Sui blockchain. This marks the token's first deployment on a Layer 1 public blockchain outside of the Provenance blockchain. YLDS is a debt security instrument backed by short-term U.S. Treasury bonds and repurchase agreements, registered with the U.S. SEC. The token offers a daily interest accrual and monthly payments equivalent to the Secured Overnight Financing Rate (SOFR) minus 35 basis points. Sui's partnership with Figure aims to generate yield for DeepBook, Sui's ecosystem limit order book, and support the platform's upcoming margin trading. On DeepBook, stablecoins will be automatically converted to YLDS. Furthermore, the project stated that minting YLDS directly on Sui "will ultimately provide Sui users with direct fiat on/off access, allowing them to access US dollars without relying on traditional cryptocurrency exchanges." The two parties plan to collaborate on further integration of YLDS and SUI.
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