Sui and Figure Certificate Company announced today that Figure will deploy YLDS, its SEC-registered yield-bearing security token, natively on the Sui blockchain. The companies said the move will expand access to regulated, yield-bearing dollar instruments within Sui’s growing DeFi stack. The partnership follows Figure Technology Solutions’ recent Nasdaq listing under the ticker FIGR. It also advances the firm’s effort to bring public-company, regulated products to consumer-grade blockchains.
YLDS is structured as a debt security backed by short-term Treasury securities and repurchase agreements involving Treasuries. The token carries a yield set at SOFR minus 35 basis points. Interest accrues daily and is paid monthly, and the token is available to both retail and institutional buyers.
Figure and Sui describe YLDS as a way to combine on-chain liquidity and peer-to-peer transferability with the oversight and disclosure obligations of a registered public security.
Figure’s leadership presented the launch as the start of a broader initiative. “Issuing YLDS on Sui represents the beginning of a broader initiative to deploy SEC-registered, yield-bearing security tokens across multiple blockchain networks,” said Mike Cagney, co-founder and Executive Chairman of Figure.
“We’re proud to take this first step with Sui and remove traditional intermediaries in order to level the playing field and democratize access to institutional-grade financial products.”
“Bringing YLDS to Sui marks a significant upgrade for regulated DeFi, where institutions can access compliant and dynamic assets with the speed and security that only Sui can provide,” said Evan Cheng, Co-Founder & CEO of Mysten Labs, the original contributor to Sui.
“By combining regulated, yield-bearing security tokens with seamless composability, YLDS further cements Sui as the premier platform for real-world asset adoption and institutional-grade financial infrastructure.”
Aiming to Democratize Institutional Yield
The launch is being integrated into Sui’s liquidity layer and trading primitives. The initial work centers on DeepBook, Sui’s on-chain central limit order book and the ecosystem’s primary venue for SUI liquidity.
DeepBook’s forthcoming margin trading architecture will use an isolated stablecoin lending pool. The pool will generate yield from trading activity, fees and liquidations. YLDS is slated to serve as a foundational yield layer within that design, allowing stablecoins and other dollar-pegged assets to swap into YLDS natively on Sui.
Proponents say the combination should improve capital efficiency for traders and builders while keeping those flows inside a regulated wrapper.
Market participants viewed the news alongside Figure’s strong public debut and an active macro market for tokenized real-world assets. Figure completed a high-profile IPO in September, raising roughly $787.5 million in the offering and listing as FIGR on Nasdaq.
The milestone gives Figure broader visibility as it moves regulated products into on-chain channels. On trading desks, FIGR shares were trading around the mid-$40s on the day of the announcement, reflecting continued investor interest in the company’s hybrid fintech and blockchain business.
Crypto markets also moved in the hours around the news. SUI traded around $2.70 on Oct. 14, 2025, after intraday swings briefly pushed the token nearer to $3.00.
The move showed that token markets remain sensitive to product-level partnerships and broader risk sentiment. Observers will be watching whether deeper integrations between regulated instruments and on-chain liquidity layers produce sustained user activity or only short-lived flows.
Analysts and builders said the Sui–Figure tie-up reflects a broader change in DeFi: combining compliance and disclosure with the speed and composability of modern blockchains. That could open new on- and off-ramps to fiat for Sui users.
It could also create native rails for institutions seeking regulated exposure to yield-bearing dollar instruments without routing through traditional intermediaries. Figure and Sui said they are discussing additional integrations, including the potential to accept SUI as collateral in Figure’s lending products.
If realized, that development would further connect token economics with regulated finance.
For now, the announcement is both a product milestone and a test. If YLDS attracts meaningful on-chain liquidity and settlement activity, it would support the view that regulated securities can be distributed and used natively on public blockchains without sacrificing investor protections.
If uptake is limited, the launch will still provide an early blueprint for cooperation between regulated issuers and Layer-1 ecosystems on digital financial infrastructure. Either way, the move strengthens Sui’s position as a venue for real-world asset experiments and gives Figure a new channel to scale its SEC-registered offerings.
Related reading: REAL Introduces Confidential Execution Layer to Support Institutional RWA Markets.
