The platform focused on loans with Cryptocurrencies Figure Markets presented, before the United States Stock Exchange and Securities Commission (SEC), a request for the launch of a stablecoin that generates interests.
The United States Stock Exchange and Securities Commission (SEC), approved a request for the launch of a stablecointhat generates interests. The firm’s request received the agency’s approval this February 18.
That is why the new Stablecoin Ylds It is already available for its users, including residents and Banks of the United States.
This is a new stable currency class that is broadcast on the Provence Blockchain platform through the tokenization of nominal value certificatesa type of fixed income value that is not subject to changes due to inflation or other market conditions.
The new stablecoin will be exchanging at 1 penta of dollar per certificate, instead of being linked to 1 dollar each. This means that a $ 1 dollar payment will require the transfer of 100 certificates.
The YLDS will also pay a SFF interest rate (Secured Overnight Financing Rate) of 3.85% Annual. These interests will accumulate daily and will be distributed monthly among the holders.
To make these payments, you have The support of reserves that include treasure bonds, commercial papers, corporate debt and other assets.
What is the objective of the creation of this stablecoin
The objective of the issuers is that the stablecoin is used as a payment tool, including cross -border. This, with the intention of Promote the adoption of currencies issued on platforms Defi replacing traditional finances.
YLDS can be bought and sold on the Figure Markets platform using dollars and other stable currencies. Fiduciary currency can also be changed during the US banking schedule.
With the recent opinion of the SEC, YLDS becomes the first stable currency that generates interests, which receives the authorization of the American regulator.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
