Solana News Today: Figure Launches Yielding Stablecoin on Solana, Boosting RWA Integration

Figure Technology Solutions, Inc. (Nasdaq: FIGR) Announces Expansion of Real-World Asset Offerings on Solana Blockchain

Figure Technology Solutions, Inc. (Nasdaq: FIGR) announced a groundbreaking move to expand its real-world asset (RWA) offerings on the Solana blockchain. The company revealed that its subsidiary, Figure Certificate Company, plans to mint $YLDS, a registered public debt security and yielding stablecoin, directly on the Solana network. This development marks a significant step in bridging traditional finance and decentralized finance (DeFi) ecosystems.

The $YLDS stablecoin will be backed by U.S. Treasuries and Treasury repo agreements, offering a continuous yield while maintaining a fixed dollar price. Exponent Finance, a DeFi yield exchange platform on Solana, will be the first user of $YLDS. According to Figure's announcement, the move is part of Figure's broader collaboration with the Provenance Blockchain Foundation to build on Solana and promote real-world asset applications in DeFi.

Figure also announced it will begin accepting SOL as collateral for crypto-backed loans, expanding its integration with the Solana ecosystem. The company emphasized its history of originating over $19 billion in loans and noted that Solana RWAs are approaching $1 billion in value. This expansion aims to deliver fiat on/off ramp capabilities and a yielding stablecoin to the Solana community.

Strategic Implications for DeFi on Solana

The introduction of $YLDS is expected to provide several key advantages to the Solana ecosystem. First, it offers real-world utility, with immediate applications in DeFi protocols such as Exponent Finance's yield exchange. The yield-bearing stablecoin, already powering Figure's live Democratized Prime product, will soon demonstrate tangible DeFi utility on Solana.

Second, $YLDS is designed as a developer-ready asset, enabling seamless integration into various DeFi protocols. By acting as a foundational primitive, it provides a stable and yield-generating core that developers can build upon, enhancing the composability of Solana's DeFi landscape.

Finally, Figure's track record in compliant RWA tokenization and its recent AAA-rated securitization provide institutional-grade credibility to the $YLDS offering. This approach differentiates $YLDS from speculative RWA projects and aligns with Figure's mission to bring regulated, yield-generating assets to the Solana ecosystem.

Why Solana Is Attracting Institutional Attention

Solana has emerged as a key player in the RWA tokenization space, with its RWA metrics expanding rapidly in 2025. The network's high throughput, low latency, and fast transaction finality have made it an attractive option for institutional finance. J.P. Morgan, for example, recently completed a $50 million commercial paper issuance on Solana, showcasing the platform's potential for institutional-grade transactions.

This trend is supported by the growing number of tokenized assets on Solana, including U.S. Treasuries, commercial paper, and real estate. The Solana Foundation has emphasized that the network is becoming a hub for tokenized assets, with its total value locked (TVL) doubling in 2025. Analysts predict Solana could become the preferred network for tokenized assets in the long term.

The recent J.P. Morgan transaction, which settled in USDC, highlights the efficiency and speed of Solana's infrastructure. Traditional USCP settlements typically take T+1 or longer, but Solana's atomic swaps significantly reduce counterparty risk. According to blockchain analytics firms, this efficiency could lower operational costs by up to 50%.

What This Means for Investors and Market Participants

The convergence of traditional finance and blockchain infrastructure is accelerating, with Figure's $YLDS stablecoin and J.P. Morgan's Solana issuance serving as key milestones. For investors, these developments signal a maturing market where real-world assets are being tokenized and integrated into DeFi ecosystems.

The potential for tokenized securities to trade around the clock on blockchain-based platforms could enhance liquidity and improve price discovery. Additionally, the availability of a broader universe of money-market opportunities could help institutional investors diversify their portfolios while reducing intermediation costs.

From a regulatory standpoint, Figure's second IPO application with the SEC-targeting a Solana-based equity issuance-could set a precedent for blockchain-native public offerings. If approved, this move would validate the use of public blockchains for mainstream capital markets and potentially encourage clearer regulations for future crypto-native offerings.

Risks and Regulatory Challenges

Despite the promise, challenges remain. The SEC must assess the legal status of digital shares, ensure compliance with AML/KYC rules, and establish custody solutions for institutional investors. According to analysts, these hurdles could delay or complicate the approval process for Figure's IPO application.

For the $YLDS stablecoin, investors should also consider the risks associated with unsecured face-amount certificates. While Figure's assets back the stablecoin, it is not FDIC-insured or bank-guaranteed, and its value may fluctuate. According to the company's announcement, potential investors are advised to review the prospectus and understand the risks involved.

In the broader RWA space, regulatory scrutiny remains a key concern. While tokenization offers efficiency, it also raises questions about investor protection and market stability. As the market grows, expect continued regulatory engagement to ensure compliance and maintain confidence.

Conclusion

Figure's move to mint $YLDS on Solana represents a pivotal step in the evolution of DeFi. By combining a regulated, yield-generating stablecoin with Solana's high-performance infrastructure, the company is demonstrating how blockchain can enhance real-world asset utility. As institutional adoption continues to rise- marked by J.P. Morgan's Solana issuance and Keel's $500 million investment in Solana RWAs-the network is positioning itself as a critical player in the future of finance.