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,* $0.01 par value.

Get YLDS For large volumes, talk to our team

Built 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.
Par value at $0.01
Dollar peg maintained through short-dated US Treasuries and repurchase agreements. 1 YLDS = 1 Certificate = $0.01 NAV (e.g., 100 YLDS = $1.00 NAV).
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-filed prospectus

Full disclosure document. Your legal and compliance teams can review before committing.

Segregated reserves

Held at UMB Bank NA. Not commingled with operating capital.

Annual Audits

Annual full financial audits from a Big Four firm

Investment Company 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

Fully automatedNo lockupsTypically same-day

YLDS vs. traditional alternatives

How YLDS compares to what your treasury holds today.

	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 11, 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.