Sui and Figure Certificate Company announced today that Figure will deploy YLDS, its SEC-registered yield-bearing security token, natively on the Sui blockchain, a move that the companies said will expand access to regulated, yield-bearing dollar instruments inside Sui’s rapidly growing DeFi stack. The partnership follows Figure Technology Solutions’ recent Nasdaq listing under the ticker FIGR and represents a clear push by the firm to bring public-company, regulated products onto 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, with interest accruing daily and paid monthly, and it is available to both retail and institutional buyers. Figure and Sui describe the instrument as a way to combine on-chain liquidity and peer-to-peer transferability with the oversight and disclosure obligations associated with a registered public security.
Figure’s leadership framed the launch as the opening salvo in a broader agenda. “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
Technically, 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 rely on an isolated stablecoin lending pool that generates yield from trading activity, fees and liquidations, and YLDS is slated to serve as a foundational yield layer within that design, enabling stablecoins and other dollar-pegged assets to swap into YLDS natively on Sui. The combination, proponents say, should improve capital efficiency for traders and builders while keeping those flows inside a regulated wrapper.
Market participants greeted the news in the context of Figure’s strong public debut and a still-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, a milestone that gives Figure broader visibility as it pushes 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 themselves moved in the hours around the news. SUI traded around $2.70 on Oct. 14, 2025, after intra-day swings that briefly pushed the token nearer to $3.00, a reminder that token markets remain sensitive to both product-level partnerships and broader risk sentiment. Observers will be watching whether deeper integrations between regulated instruments and on-chain liquidity layers translate into sustained user activity or simply short-lived flows.
Analysts and builders said the Sui–Figure tie-up illustrates a larger evolution in DeFi: the push to combine compliance and disclosure with the speed and composability of modern blockchains. That could open new on- and off-ramps to fiat for Sui users and create native rails for institutions seeking regulated exposure to yield-bearing dollar instruments without routing through traditional intermediaries. Figure and Sui also signaled they are discussing additional integrations, including the potential to accept SUI as collateral in Figure’s lending products, a development that, if realized, would further entwine 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 reinforce the argument that regulated securities can be distributed and used natively on public blockchains without sacrificing investor protections. If uptake is limited, it will still have provided an early blueprint for how regulated issuers and Layer-1 ecosystems can cooperate on the next generation of digital financial infrastructure. Either way, the move cements Sui’s claim to be a primary playground for real-world asset experiments and gives Figure a fresh channel to scale its SEC-registered offerings.
