Deployments · platform by Figure

Figure YLDS yield-bearing dollar tokenNew

YLDS is a dollar token from Figure that pays interest: legally a face-amount certificate issued by Figure Certificate Company and registered with the SEC, rather than a payment stablecoin. It holds a $1 price, accrues interest daily at a rate tied to SOFR and is backed by the issuer's assets, mainly Treasuries and Treasury repo. It launched on Provenance in February 2025, where it underpins Figure's Democratized Prime product, and was added to Stellar in May 2026. About $507 million was outstanding in October 2026, 95% on Provenance.

Live (limited) since Feb 2025^[1]i — Live and sizeable, but held and used mostly inside Figure's own Provenance ecosystem. · Reviewed 13d ago i

Assets

Debt security^[1][2][4]

Yield-bearing stablecoin (DefiLlama classes it as fiat-backed); legally an SEC-registered face-amount certificate holding a $1 price and paying a SOFR-linked rate, backed by the issuer's Treasury and repo assets

Networks

Provenance Blockchain Public, permissionless^[1][4]

Stellar Public, permissionless^[3][4]

Use cases i

Primary issuance^[4][1]Treasury management^[3]

Jurisdictions

United States

Participants

• FigureIssuer, Operator, Platform provider, Asset manager, Fund administrator, Transfer agent or registrar^[1][2][7]United States
• UMB BankCustodian, Counterparty^[7][6][8]United States
• Flagstar BankCustodian^[7][6]United States
• Hidden RoadCounterparty^[6]United Kingdom
• Lead BankCustodian^[6]United States
• KPMGAuditor or reserve attestor^[7]United States
• A&O ShearmanLegal or professional adviser^[7]United Kingdom
• Ondo FinanceInvestor^[8]United States
• HastraDistributor^[9]Cayman Islands
• Provenance Blockchain FoundationTechnology provider^[10]United States

Likely relevant regulation i

• SEC framework for tokenised securities and crypto assets (federal securities laws, staff statements and exemptive relief)United States

Assets

• IssuesYLDS (YLDS)^[1]

Metrics i

• ~$507.42mTokens outstanding · as of 15 Oct 2026^[4]
  Sum of DefiLlama's per-chain balances.
• ~$482.18mTokens outstanding · as of 15 Oct 2026 · on Provenance Blockchain^[4]
• ~$25.24mTokens outstanding · as of 15 Oct 2026 · on Stellar^[4]
• $530.45m / quarterYLDS certificates issued · as of 31 Mar 2026^[5]
  Q1 2026 cash-flow statement: issuance to related parties USD 263.7m plus to third parties USD 266.7m (summed here).
• $452.71m / quarterYLDS certificates issued · as of 30 Jun 2026^[6][5]
  Q2 2026, derived: six-month issuance of USD 983.2m (related parties 539.4m, third parties 443.7m) less the Q1 figure.
• $263.43m / quarterYLDS certificates surrendered · as of 31 Mar 2026context^[5]
  Q1 2026: surrenders (redemptions) by related parties USD 45.1m and third parties USD 218.3m, summed. Context so issuance and redemption are not added together.
• ~$466.01mSupply on chain (daily) · as of 7 Nov 2026^[11]
  Automated daily reading of on-chain supply across all chains.
• ~$25.32mSupply on chain (daily) · as of 7 Nov 2026 · on Stellar^[11]
  Automated daily reading.

Timeline

1. Happened 5 May 2026 · Scope expansion · recorded 15 Oct 2026
   YLDS launches on Stellar, aimed at regulated fintechs and neobanks.^[3]
2. Happened 10 Dec 2025 · Announcement · recorded 15 Oct 2026
   Figure says Figure Certificate Company intends to mint YLDS natively on Solana, with Exponent Finance as its first user there.^[2]
3. Happened Feb 2025 (month only) · Launch · recorded 15 Oct 2026
   Figure Markets launches YLDS on Provenance as an SEC-registered public security, paying SOFR minus 0.50%.^[1]

Sources i