Stellar Gets Its First Regulated, Yield-Bearing Stablecoin with YLDS Launch

Figure Technology Solutions (Nasdaq: FIGR) — a fintech company that builds blockchain-native financial products including lending, trading, and digital asset infrastructure — today announced the launch of YLDS on the Stellar network, marking the first time a regulated, yield-bearing dollar product has been made available on the chain.

YLDS is Figure's SEC-registered stablecoin issued by Figure Certificate Company, combining stablecoin liquidity with money market-style yield. The product is designed for regulated entities such as fintechs and neobanks that require compliant onchain dollar holdings. Notably, Figure HELOC — a token representing home equity loans originated on-chain — currently ranks #9 among all cryptocurrencies by market cap, a signal of the scale Figure has achieved in tokenizing real-world financial assets, though not without controversy.

"We built YLDS to do what banks do with your deposits: hold dollars, earn yield, move money, but onchain and regulated," said Mike Cagney, executive chair of Figure. "Fintechs and neobanks can now access that product on the Stellar network."

Stellar processed $55.6 billion in stablecoin payment volume in 2025 and hosts more than $2 billion in onchain tokenized real-world assets from issuers including WisdomTree, Ondo, and Franklin Templeton. According to rwa.xyz data, Stellar ranks as the fourth-largest chain by distributed RWA value, with $1.6 billion tokenized on the network. The launch builds on Stellar's expanding DeFi infrastructure, which was further strengthened when RedStone brought institutional-grade oracle price feeds to the network in March — unlocking more sophisticated financial products on the chain.

Raja Chakravorti of the Stellar Development Foundation called the launch an expansion of "dollar-denominated stablecoin products that combine yield, usability, and global reach."

Earlier this year, the blockchain developed by Figure, Provenance, saw its TVL hit an all-time high of $1.2 billion, driven entirely by Figure Markets' activity, as The Defiant reported.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.