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Figure Certificate Company to Launch YLDS Stablecoin on Solana Blockchain

YLDS will be a USD-pegged securitized stablecoin backed by U.S. Treasuries and repo agreements, with Exponent Finance as its initial adopter.

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Summary

Figure Certificate Company plans to issue YLDS, a registered public debt security, natively on the Solana blockchain. The asset will function as a securitized stablecoin pegged to the U.S. dollar, backed by U.S. Treasuries and repurchase (repo) agreements. Exponent Finance has been announced as the first user of YLDS.

Terms & Concepts
  • Securitized stablecoin: A stable cryptocurrency pegged to a fiat currency and backed by traditional financial securities, such as U.S. Treasuries.
  • Solana blockchain: A high-performance blockchain platform known for fast transaction speeds and low costs.
  • Repo agreement: A short-term borrowing arrangement where securities are sold and later repurchased at a set price.