SEC Gets a Proposal from a Financial Services Firm for Issuing a New Interest-Accruing Stablecoin


A financial services startup with a blockchain focus intends to introduce an interest-bearing stablecoin that is penny-pegged.

Stay in the know on crypto by frequently visiting Crypto News Today

A registration statement submitted to the U.S. Securities and Exchange Commission (SEC) in October states that Figure, a San Francisco-based company, intends to establish Figure Certificate Company as a subsidiary.

CryptoCaster Quick Check:

“Figure Transferable Certificates,” which are transferrable digital asset securities priced at $0.01 per certificate, are what the subsidiary intends to issue. According to the figure, unless the holder chooses to opt out, the certificates will automatically be repaid with dollars each month and will accrue simple interest that is credited to the holder. Twenty years after the date of issuance, the certificates mature.


The Provenance Blockchain is an open-source platform that Figure uses for loan origination, equity management, private fund operations, and payment services. Provenance boasts of actively managed real assets worth over $9 billion on its chain.

If the SEC grants approval, the certificates will also be released on Provenance. The Figure Certificate Company’s investments in foreign securities, commercial paper, corporate debt securities, and fixed-income securities will yield interest to certificate holders.


The certificates are envisioned by Figure as stablecoin substitutes, along with a payment rail and a settlement currency.

“Certificate holders may use the Figure Transferable Certificates as an alternative to the stablecoins that are currently available in bearer form, without any yield, and not governed by the Investment Company Act.”CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like