The blockchain world is witnessing significant progress. On October 14, 2025, Layer 1 public chain Sui established a strategic partnership with Figure Technology Solutions’ subsidiary Figure Certificate Company to natively deploy its SEC-registered yield-bearing security token YLDS on the Sui blockchain.
This is the first expansion of the YLD token beyond Provenance to a Layer 1 network, marking a deep integration of traditional Compliance financial assets with high-performance blockchain infrastructure.
01 Breaking the Boundaries of Collaboration: The Strategic Partnership between Sui and Figure
This cooperation comes after Figure successfully went public on Nasdaq and raised $788 million, marking a milestone.
Figure Technology Solutions, as a company listed on NASDAQ, has brought its innovative financial products to the Sui blockchain, reflecting the recognition of traditional finance for blockchain technology.
Through this collaboration, Sui upgrades its positioning from a technology-focused public chain to a Compliance-grade DeFi infrastructure, occupying a unique advantage in the fiercely competitive RWA (Real World Assets) sector.
Mike Cagney, co-founder and executive chairman of Figure, pointed out: "The issuance of YLDS on Sui represents the beginning of a broader initiative aimed at deploying SEC registered, yield-bearing security tokens across multiple blockchain networks."
He further emphasized that this cooperation will eliminate traditional intermediaries, balance the competitive environment, and democratize access to institutional-level financial products.
02 In-depth Understanding of YLDS: A Combination of Compliance and Returns
YLDS is not an ordinary stablecoin; it is a debt security registered with the SEC, combining the utility of a stablecoin with the appreciation potential of yield-bearing assets.
This token is backed by short-term U.S. Treasury bills and repurchase agreements, providing investors with a bridge between traditional financial markets and the crypto world.
From a technical perspective, YLDS offers a yield of SOFR minus 35 basis points, utilizing a daily interest calculation and monthly payment mechanism.
This allows it to be used for transactions and transfers like traditional stablecoins, while continuously generating yields, addressing the pain point of traditional stablecoins lacking built-in returns.
Evan Cheng, co-founder and CEO of Mysten Labs, stated: "Introducing YLDS to Sui marks a significant upgrade for regulated DeFi, allowing institutions to access compliant and dynamic assets with the speed and security that only Sui can provide."
03 Technical Integration: How YLDS Enhances the Sui Ecosystem
The integration of YLDS with Sui is not just a simple token deployment, but a deep technical fusion. This collaboration will initially support the margin trading infrastructure of DeepBook.
DeepBook, as the main liquidity layer of Sui and the largest SUI trading venue within the ecosystem, is set to launch a margin trading system that will utilize an isolated stablecoin lending pool to generate profits from trading activities, lending fees, and liquidation events.
YLDS will serve as the base yield layer, converting stablecoins into yield-generating assets by natively minting YLDS on Sui, maximizing capital efficiency.
For users, holding YLDS means they can make instant peer-to-peer transfers and enjoy 24⁄7liquidity and yield generation, while also accessing fiat channels designed for individuals and institutions.
In addition, directly minting YLDS on Sui will ultimately provide Sui users with a direct fiat deposit and withdrawal channel, allowing them to access USD without relying on traditional cryptocurrency exchanges.
04 Market Impact: Enhancing Sui’s Competitiveness in the RWA and DeFi Sectors
This cooperation has had an immediate impact on the Sui ecosystem. According to the data, the total locked value of Sui in DeFi is approximately $3.46 billion, and the market value of stablecoins has increased by 18% in the past week, surpassing $1.09 billion.
At the same time, the on-chain RWA value is approximately 17 million dollars, and with the introduction of YLDS, this figure is expected to grow rapidly.
From a market positioning perspective, Sui has established a significant first-mover advantage in the trillion-dollar potential RWA sector by introducing the first interest-bearing security token registered with the SEC.
Unlike many "permissionless" DeFi protocols, Sui has explicitly shifted to a compliance-first strategic path by introducing YLDS, a characteristic that fully complies with U.S. securities laws, enabling it to attract traditional financial institutions and regulated entities.
In terms of technical architecture, Sui, as a Layer 1 blockchain based on the Move programming language, provides an ideal technical foundation for high-frequency financial trading scenarios with its object-centric model and parallel execution capabilities.
05 Price Performance and Market Outlook
Despite the positive news, the price of SUI is still affected by overall market sentiment. As of October 15, the trading price of SUI is approximately $2.67, with key support and resistance levels at $2.50 and $3.75, respectively.
Market analysts believe that although short-term prices are under pressure, this cooperation represents a substantial improvement in fundamentals, and such a level of Compliance financial integration is rare in the public chain field.
Based on Sui’s first-mover advantage in the Compliance RWA sector, the reliability of Figure’s publicly listed company background, and the enormous potential of the entire RWA market, the future of the SUI token. Price Trend Stay optimistic.
Under the baseline scenario, assuming cooperation proceeds as planned, YLDS steadily accumulates TVL, and the RWA market grows steadily, the expected mid-term increase is between 20% and 50%.
06 Future Prospects: A Long-Term Perspective on the Collaboration between Sui and Figure
The collaboration between Sui and Figure is not limited to the deployment of YLDS. Figure and Sui are also exploring additional collaboration opportunities, including integrating SUI tokens as collateral assets in the Figure lending platform.
This collaboration represents a clear path towards Compliance and institutional-level Decentralized Finance, making it particularly unique among the many public chain projects that still linger in the regulatory gray area.
For investors with a medium to long-term perspective, Sui demonstrates compliance and institutional friendliness that distinguishes it from most crypto-native projects, but its value realization still heavily relies on the effectiveness of collaborative execution, the overall development of the RWA market, and the continued friendliness of the regulatory environment.
As more Compliance financial applications are deployed on Sui, a positive feedback network effect will be formed, further consolidating Sui’s position as a bridge connecting traditional finance and the Decentralized Finance world.
Future Outlook
The total locked value of the Sui ecosystem is approximately $3.46 billion, with the market value of stablecoins increasing by 18% over the past week, exceeding $1.09 billion. The introduction of YLDS is like throwing a stone into a calm lake, and the ripples are continuously expanding.
As more institutional funds enter the Sui ecosystem through compliant channels, a more robust, transparent, and efficient financial world is gradually being built before our eyes.
