EDX Markets, a digital asset technology firm that combines an institutional-only trading venue with a central clearinghouse, has announced the integration of YLDS into its ecosystem. EDX launched in June 2023 with backing from major financial services and crypto investors including Citadel Securities, Fidelity Digital Assets and Charles Schwab, and it operates on a non-custodial basis, routing client assets to third-party custodians rather than holding them at the exchange. YLDS is the first SEC-registered, yield-bearing digital security, issued by Figure Certificate Company ("FCC"), a subsidiary of Figure Technology Solutions, Inc. (Nasdaq: FIGR) (OPEN: FGRS). The token received SEC qualification in February 2025 and is designed to hold a one-to-one value against the U.S. dollar while accruing interest daily.

The integration is designed to enhance capital efficiency across the EDX ecosystem while reinforcing the firm's commitment to regulated, high-performance digital asset infrastructure. Under the arrangement, institutions can use YLDS as a collateral asset, gaining greater flexibility to manage capital while holding a regulated, yield-bearing security. Yield is central to the collateral use case: margin posted at crypto trading venues has often been held in cash, stablecoins or other digital assets that do not accrue interest for the depositor, so a collateral asset that earns yield while it sits lowers the opportunity cost of posting it. U.S. stablecoin legislation signed into law in July 2025 prohibits payment stablecoins from paying interest to holders, a restriction that keeps on-chain yield offerings anchored in registered securities such as YLDS. EDX will additionally adopt YLDS as a treasury asset on its own balance sheet, a move the firm says underscores its confidence in the product and its long-term role across digital asset markets.

"Firms are looking for solutions that improve capital efficiency without compromising the regulatory standards, liquidity and operational resilience they expect," said Tony Acuña-Rohter, CEO of EDX Markets. "YLDS brings these attributes together in a regulated, yield-bearing asset that remains transferable and available around the clock. Integrating YLDS into our ecosystem is another step in expanding the secure infrastructure that supports institutional adoption of digital assets."

The launch reflects the shared commitment of EDX and Figure to advancing market infrastructure that enables institutions to benefit from the speed, accessibility and efficiency of digital assets. It also arrives amid rapid growth in tokenized cash-equivalent products, where firms including BlackRock offer on-chain exposure to short-term U.S. government debt and the tokenized Treasury sector has grown into a multi-billion-dollar market, a marker of institutional demand for regulated, yield-generating digital instruments.

"Exchange collateral was one of the first use cases we pointed to when we launched YLDS," said Mike Cagney, Co-Founder and Executive Chairman of Figure. "EDX integrating YLDS as collateral and a treasury asset is that thesis playing out in practice. Institutions shouldn't have to choose between yield, liquidity and regulatory certainty, and with YLDS they don't. We see this as another step in the broader migration of traditional finance onto blockchain, and we're excited to build that infrastructure alongside EDX."

As leading firms increasingly participate in crypto markets, EDX and Figure said they will continue exploring opportunities to expand access to regulated digital assets and to develop the supporting infrastructure those markets require. Figure listed on Nasdaq in September 2025, and YLDS's progression from SEC qualification in February 2025 to collateral and treasury use at an institutional trading venue marks the product's move into operational market infrastructure within its first year.