Reflect has launched Create on Solana, offering users a way to issue a branded yield-bearing stablecoin in one transaction and choose how interest is divided among holders.
Summary
- Create lets users launch branded tokens and choose how interest is shared.
- Reflect names Offside Labs and Adevar Labs as auditors of its program infrastructure.
- Collateral eligibility excludes assets with fixed transfer restrictions or investor eligibility requirements.
- Reflect leaves token classification and market access decisions to each application and its counsel.
Reflect said its new tool lets users select collateral from a reviewed set, attach their own branding and build a token through a single transaction. Solana promoted the release through its main account, describing the process as taking less than a minute.
“Create is live,” the company wrote in its launch post.
The launch announcement does not name a legal issuer for each token or identify who signs off on every collateral review. Reflect’s documentation describes its approach to both questions, while stopping short of providing a regulatory determination for individual launches.
Create wraps collateral and shares its yield
Reflect’s Create documentation describes each token as a wrapper around yield-bearing assets held onchain. A deposit becomes backing collateral, against which the program mints the branded token.
Creators can select one approved asset or combine several in a basket. Eligible collateral must be permissionless and freely transferable, the documentation says, excluding assets with fixed transfer restrictions or investor eligibility requirements.
The technical launch flow creates the mint, attaches metadata, transfers mint authority to the program, and registers the integration. Reflect instructs developers to upload images and metadata before that transaction.
Interest comes from the underlying collateral. The creator chooses the share retained and the share passed to holders, with rates changing as the underlying return changes.
In its illustration, Reflect uses collateral earning 5%, with the creator keeping one-fifth of the interest. Holders receive 4%, while the creator receives $100,000 annually on $10 million outstanding. The company labels the figures an illustration, not a projection.
Reflect’s introduction identifies neobanks, fintechs, payroll providers, payment tools, marketplaces and treasury products among its intended users. Its product lineup includes Earn, which provides yield exposure through “plus” assets, and Protect, which divides exposure into senior and junior positions.
Reflect names code auditors and describes collateral checks
Reflect’s risk documentation identifies three reviews before an asset or strategy becomes eligible. Asset classification scores liquidity, issuer reliability, and availability across trading venues; economic security reviews use simulation and backtesting; code reviews examine the programs.
Offside Labs and Adevar Labs are named as code auditors covering Reflect Core, yield routing and the whitelabel program. The page does not name the third-party economic reviewers or an individual responsible for approving the collateral set.
Blockworks Advisory separately published a June 8 explanation of a risk framework for Reflect’s Solana lending markets. Its disclosure says Reflect commissioned and funded the work, although Blockworks used its own methodology.
The risk page warns that redemption depends on withdrawal capacity at the venues holding reserves. During market stress, withdrawals can become slower or more expensive, even where small transactions normally settle immediately.
Reflect says it operates no insurance pool. Its Protect structure instead allows junior capital to absorb losses before senior positions, with protection limited by the capital available beneath them.
Legal classification remains specific to each token
Reflect’s compliance documentation argues that users do not hold reserves themselves because backing assets sit in contracts and holders redeem against those assets. The company presents this as an architectural distinction, not a compliance certification.
Its guidance declines to determine whether a created token is a security. Classification depends on its structure, marketing, intended buyers, and jurisdiction, the page says.
The same documentation says contracts enforce no geographic restrictions, leaving applications to decide which markets they serve. Reflect identifies cash conversion, banking, card issuance and custody outside its system as activities that may require licenses.
In terms last updated in September 2025, Palindrome Engineering Inc., a Delaware corporation, identifies itself as the service operator. Those terms warn that local laws may treat Reflect assets as securities, derivatives, electronic money or other regulated instruments.
U.S. regulators have separately finalized payment stablecoin rules. The Office of the Comptroller of the Currency announced its GENIUS Act framework on Oct. 21, setting Jan. 18, 2027, as the effective date.
The final rule retains the restriction on issuer payments of yield solely for holding, using, or retaining a payment stablecoin. Its treatment of multiple brands allows case-by-case review during licensing or registration, including whether holders remain adequately protected.
Branded stablecoin platforms already have live customers
PayPal, M0 and MoonPay launched PYUSDx publicly on Sep. 9, with Saturn, Concrete and Cap using the platform. As previously reported by crypto.news, the partners said the projects had processed more than $100 million.
M0’s announcement distinguishes PYUSD-backed custom tokens from the underlying PayPal stablecoin. The related coverage identifies MoonPay Digital Assets as issuer of PYUSDx tokens and Paxos as issuer of PYUSD.
Stripe introduced Bridge’s Open Issuance in September 2025, offering businesses customized stablecoins with reserve management and compliance infrastructure. Phantom was its first major partner, using the platform for CASH.
The OCC said its new rule does not complete every part of the GENIUS Act implementation. Bank Secrecy Act, anti-money laundering, and sanctions requirements will be addressed through separate rulemaking coordinated with the Treasury Department.
