nvYLDS Deep Dive
nvYLDS is the flagship stablecoin of the NUVA ecosystem, built for investors who prioritize yield, safety and liquidity. nvYLDS is fully backed by Figure Certificate Company’s YLDS, the first and only U.S. SEC-registered, yield-bearing stablecoin security. YLDS’ SEC registration is a major differentiator and enables a wide range of regulated investors to incorporate it into their holdings.
Yielding around 4%, nvYLDS tokens are among the most attractive stablecoins in DeFi.
FAQs
How is nvYLDS different from tokenized U.S. Treasury products?
The adoption and growth of tokenized U.S. treasury based funds like BlackRock's BUIDL validates the use case. However, BUIDL and similar funds utilize a permissioned, top-down approach—effectively bringing the walled gardens of traditional finance on-chain. Access is restricted, and utility is limited to passively holding a tokenized security.
nvYLDS is the antithesis of this model. It is the permissionless competitor to BUIDL, designed from the ground up as a composable building block for the RWA economy.
While BUIDL offers a static asset accessible only to qualified investors, nvYLDS is a dynamic, crypto-native utility token. Its purpose is not just to be held, but to be actively used by anyone to power liquidity, create new financial products, and bootstrap markets for any RWA on the NUVA platform. This makes nvYLDS the foundational infrastructure for an open, democratized RWA ecosystem—a direct challenge to the restrictive, centralized model that BUIDL represents.
Are there minimums?
No
What are liquidity options?
Driven by a simple UI/UX, nvYLDS can be created, redeemed or traded 24/7, with creation processed instantly and redemption processed within minutes, to up to 2 US business days for larger orders. nvYLDS is flexible enough to replace a user’s bank account. (see Section 2 for details)
Is nvYLDS overcollateralized?
Yes. All of the digitally native YLDS underlying the nvYLDS vault and the nvYLDS reserve account is constantly visible on the Provenance Blockchain. The vault and reserve accounts will hold approximately 110% of AUM.
nvYLDS Underlying Asset: YLDS
Launched in early 2025 by Figure Certificate Company (FCC), a subsidiary of Figure Technology Solutions, Inc., YLDS is the first U.S. Securities and Exchange Commission (SEC) registered, yield-bearing stablecoin combining the liquidity of traditional stablecoins with the earning power of a money market fund. YLDS pays an interest rate of Secured Overnight Financing Rate (“SOFR”) less 35 basis points with a 0.00% minimum. For more information on the underlying YLDS asset, visit www.ylds.com
SEC registration elevates YLDS from the opaque, often unregulated world of most stablecoins (like USDT or USDC) to a compliant, transparent financial instrument treated like a security under U.S. law—similar to stocks or bonds. This isn't just a checkbox; it's a structural advantage that addresses core pain points in crypto: trust deficits, regulatory risks, and barriers to institutional adoption. YLDS's SEC registration provides a competitive edge in a market where stablecoins process billions in daily volume but face ongoing scrutiny. Key differentiators:
Enhanced Investor Protections and Transparency
Regulatory Oversight: Unlike unregulated stablecoins, YLDS is subject to SEC reporting requirements, including audited reserves and disclosures on asset composition (primarily short-term U.S. Treasuries). This reduces risks like the opacity seen in other stablecoin products, where holders have limited insight into underlying assets.
Redemption Confidence: SEC rules mandate reliable 1:1 USD redemptions (available 24/7 on-chain, with fiat off-ramps during banking hours), backed by low-risk assets, minimizing depegging fears.
Anti-Fraud Measures: Owning YLDS directly requires mandatory KYC for yield access (though transfers are peer-to-peer if wallets are both KYC’d). This prevents money laundering and illicit use, aligning with broader financial standards and building trust for risk-averse users.
Legitimacy and Institutional Appeal
Bridge to TradFi: By classifying YLDS as a security, it gains the "legitimacy" of traditional finance, making it attractive to institutions wary of crypto's wild west reputation.
Innovation with Guardrails: The SEC's approval signals openness to "novel stablecoin structures," fostering RWA (real-world asset) tokenization without the existential threats of enforcement actions (e.g., against unregistered securities). It positions YLDS as a "transformative play" for mainstream adoption, competing with non-yielding giants by sharing yields.
FAQs
What are YLDS Risk Factors?
An investment in YLDS is subject to risks and users could lose money by investing in the Figure Certificates. Before investing in nvYLDS or YLDS, users you should consider carefully the risks in the Prospectus
What legal rights do the vault token holders have with respect to the underlying assets?
NUVA SPC Ltd., for and on behalf of the relevant segregated portfolio, has all applicable legal rights to the underlying assets in each vault. NUVA users do not have any direct claim against the underlying assets.
The nvYLDS Vault is backed by 1:1 by YLDS, a yield-bearing stablecoin which is a U.S. public security issued by the Figure Certificate Company (FCC). The Certificates are unsecured and backed solely by the assets of FCC. Although FCC is required under the Investment Company Act to maintain a minimum level of capital and reserves, and although the assets that FCC may hold as capital and reserves are only those in which a District of Columbia life insurance company is authorized to invest, in the event that there are losses on FCC’s assets, including assets that comprise FCC’s capital and reserves, FCC may not have sufficient resources to meet its obligations, including making interest and/or principal payments on your Certificates.
What blockchain is YLDS on?
YLDS is issued through FCC on the Provenance Blockchain, a public, permissionless L1 blockchain built for financial services businesses.