A registered debt security that earns like a money market fund and moves like a stablecoin.
YLDS is a registered debt security – subject to a governance framework similar to money market funds. ~% daily accrual,* pegged to the dollar.
Get YLDSFor large volumes, talk to our teamBuilt for regulated capital
The structure your compliance team will approve. The yield your treasury team has been looking for.
Registered under the Investment Company Act
YLDS is registered under the same law – the Investment Company Act – as money market funds. Figure Certificate Company, the issuer of YLDS files periodic reports with the SEC.
Annual Audits
Annual audit from a Big Four firm. UMB Bank as reserve custodian. Reserve composition available on demand.
$1.00 Peg
YLDS is pegged to the U.S. dollar by design. Each certificate carries a fixed face amount of $0.01, so every 100 certificates equals exactly $1.00 at issuance, on-chain transfer, and redemption.⟠
GENIUS Exempt Issuer
GENIUS Act bans stablecoin yield. CLARITY Act extends it. YLDS is a GENIUS Exempt Issuer backed by GENIUS Compliant Collateral. Structured for whatever comes next.
What registration means for your organization
YLDS is structurally designed for institutional due diligence.
SEC-filedprospectus
Full disclosure document. Your legal and compliance teams can review before committing.
Segregatedreserves
Held at UMB Bank NA. Not commingled with operating capital.
AnnualAudits
Annual full financial audits from a Big Four firm
InvestmentCompany Act
Same governance and disclosure requirements as traditional money market funds.
Onchain cash sweep
Cash sweep is a standard treasury operation — excess cash moves into a higher-yielding instrument, then sweeps back when needed. YLDS brings this to digital assets with a lower barrier to entry than traditional demand deposit networks.
Set a reserve threshold. Excess auto-mints to YLDS. When outflows require it, YLDS redeems back to USD. No manual intervention.
- 1
Set threshold
e.g., maintain $5M in operating reserves
- 2
Auto-mint
excess above threshold mints to YLDS
- 3
Accrue
YLDS earns ~% daily* while held
- 4
Auto-redeem
sweeps back to USD when balance drops
YLDS vs. your current Stablecoin Position
What you're giving up by sitting in USDC.
| YLDS | Money Market Fund | Traditional Stablecoins | |
|---|---|---|---|
| Yield to holders | ~%1 | ~4-5%2 | 0%3 |
| On-chain transferable | P2P | No | Yes |
| 24/7 settlement | Yes | T+1 | Yes |
| Registered security | Yes | Yes | No |
| GENIUS Act status | Exempt Issuer4 | N/A4 | Restricted4 |
| Cross-border settlement | <$0.015 | Wire fees | Variable |
| Annual Audits | Big Four Audited6 | Varies6 | Attestation6 |
Sources & Methodology
- YLDS yield: Rate based on SOFR minus 35bps as of May 19, 2026. Past performance does not guarantee future results. See prospectus for full details.
- Money market fund yield: Range reflects 7-day SEC yield for prime institutional money market funds as of May 11, 2026, per Crane Data Money Fund Intelligence Opens in a new window.. Yields vary by fund and are not guaranteed.
- Stablecoin yield: Reflects standard non-yield-bearing stablecoins (e.g., USDC, USDT) as of May 11, 2026. Certain yield-bearing stablecoin alternatives exist but are structured differently and are not represented in this comparison.
- GENIUS Act status: Based on Figure Certificate Company's interpretation of the GENIUS Act as enacted May 11, 2026. Regulatory classifications are subject to change and may be interpreted differently by other parties.
- Cross-border settlement cost: Fees vary by chain; excludes any third-party conversion, off-ramp, or banking costs.
- Annual Audits: YLDS reserves audited by a Big Four firm as of May 11, 2026. Money market fund audit practices vary by issuer. Stablecoin "Attestation" reflects industry-standard third-party attestations rather than full audits.
Important Disclosures
- This comparison was prepared by Figure Certificate Company for informational purposes only and does not constitute investment advice, an offer to sell, or a solicitation of an offer to buy any security. The categories and characteristics shown were selected by Figure and may not reflect all material differences between these products. Money market funds and stablecoins each have features and risks not fully represented here.
- YLDS is a registered fixed-income security. Money market funds are registered investment companies subject to different regulatory requirements. Stablecoins are not securities and are subject to a different (and evolving) regulatory framework. Each product carries distinct risks, fee structures, redemption mechanics, and liquidity profiles. Investors should review the YLDS prospectus Opens in a new window. and the offering documents of any compared product before making investment decisions.
- Yield figures shown are not guaranteed and will fluctuate. Past performance is not indicative of future results. All data current as of May 11, 2026 unless otherwise noted.
Trusted by leading organizations
Institutions using YLDS for treasury, payments, and settlement.
Ondo
Treasury Allocation
$25M+ YLDS position
Allocated treasury reserves into YLDS as a registered, yield-accruing alternative to idle stablecoin holdings.
Read Press Release, Ondo, $25M+ YLDS position Opens in a new window.Toku
Payroll
Modernizing payroll with YLDS
Use YLDS as the settlement layer for payroll, letting employers earn yield on float between funding and payout and giving employees the option to be paid in YLDS.
Stellar Apps
Fintech Settlement
Fintech settlement on Stellar
Fintech companies building on Stellar using YLDS for cross-border settlement with sub-penny transfer costs.
Read Press Release, Stellar Apps, Fintech settlement on Stellar Opens in a new window.Organizations holding YLDS
Ready to put idle capital to work?
Get YLDS directly or talk to our team for treasury allocations and settlement flows.
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