“The Ylds Stablecoin, Backed by Prime Money Market Funds, Offers Daily Interest and 24/7/7 Peer-To-Per Transfers.”, – WRITE: www.coindesk.com
The Ylds Stablecoin, Issued Through Figure Certificate Corporation, Operates on the Provenance Blockchain and Accrues Interest Daily, Paid Out Every Mont in Either US dokens. It is Backed by the Same Securities as Prime Money Market Funds and Pays Holders A Return at and Annual Rate of the Secured Overnight Finight Finance Rate (Sofr) LESS 50 Basis Points.
The token can be transferred peer-to-peer and exchanged for dollars or Other stablecoins around the clock, with fiat off-romps available Dringing US Banking Hours.
Stablecoins MushOomed to A $ 200 Billion Asset Class and are IncreASINGly Popular for Payments and Cross-Border Transactions. However, Market-Leading Stablecoins Like USDT and USDC DON’T Generally Pay Out Holders The Yield Earned on Reserve Assets, Predominantly US Treasuries. That’s WHERE TOKENIZED Versions of Money-Market Funds or Investment Strategies Like Blackrock’s Buidl, Franklin Templeton’s Benji or Ethena Park On-Chain Cash to Earn A Yield.
Read More: Tokenized Treasuries: A GAME-CHAngere for Collateral in Crypto Markets
Figure Markets is the Digital Asset Arm of Figure Technologies, A Company CO-FOUNDED BY MIKE CAGNEY, The FORMER CEO OF SOFI. The Firm Has Played A Key Role in Blockchain-Based Real-World Asset (RWA) Tokenization, Processing Over $ 41 Billion in Transactions and Originating $ 11 Billion in Home Equen. Figure Field Paperwork to the Sec To Launch a yilt-bearing Stablecoin Offering in October 2023.
The Company Ylds to Attract Interest from Developers Looking to Integrate Stable, Yield-Bearing Digital Assets Into Decentralized Finance (Defi) and Payment Applications.
“We See Tremendous Applications for Ylds,” Figure Markets Ceo Mike Cagney SAID IN A STATEMENT. “Exchange collateral, Cross-Border Remittans and Payment Rails Are Immediate Opportunities, But This Is Justing of A Larger Shift of Traditional Finance to Blockchain.
Disclaimer: Parts of this Article Were Generated with the Assistance from AI Tools and Review by Our Editory Team to Enseure Accucy and Adherice Tour Standards. For more information, See Coindesk’s Full Ai Policy.
X Icon
