Figure received approval from the US Securities and Exchange Commission to issue the first interest-bearing stablecoin YLDS

According to Fortune, blockchain company Figure received approval from the U.S. Securities and Exchange Commission to issue its first interest-bearing stablecoin YLDS. The stablecoin will be officially registered as a security with the SEC, pegged to the U.S. dollar, and provide an annualized rate of return of 0.5%. Stocks and bonds have the same financial category status. Mike Cagney, CEO of Figure Markets, said that YLDS will be open to users on Thursday, and holders will need to complete KYC verification to receive daily revenue. Users who are not verified by KYC can hold but cannot earn revenue.

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