Blockchain financial company Figure seeks approval from the U.S. SEC to issue interest-bearing stablecoins, and its digital asset division plans to raise $50 million

ChainCatcher news, according to Bloomberg, cryptocurrency startup Figure is seeking approval from the U.S. Securities and Exchange Commission to issue an interest-bearing stablecoin, having submitted an S-1 form. This move aims to create a new type of stablecoin with federal legitimacy, and if successful, Figure will become the first stablecoin blockchain financial company regulated as a security in the U.S.

In addition, Figure's digital asset division, Figure Markets, plans to complete a $50 million funding round at a $250 million valuation (excluding the financing amount), with Jump Crypto potentially acting as the lead investor. The funds will be used to support the operations of Figure Markets.