New crypto incubator Obex has raised $37 million to support yield-bearing stablecoins.
According to ChainCatcher, market sources report that the new crypto incubator Obex team has raised $37 million to support the development of the next-generation yield-bearing stablecoin ecosystem led by Framework Ventures, LayerZero, and Sky.
This initiative aims to invest in and fund projects that bring real-world asset collateralization strategies on-chain, introducing institutional-grade risk controls and underwriting practices to this rapidly evolving sector. Obex will become the latest capital allocator for Sky, providing funding to projects to help them scale from the protocol’s substantial reserves and generate returns through strategic approaches.
The program will focus on stablecoins collateralized by high-quality real-world assets, with an emphasis on three core areas: computational credit (such as tokenized GPU infrastructure), energy assets (such as municipal-level solar and battery deployments), and lending to large fintech companies.
The incubator will offer early-stage teams a 12-week program, providing funding, technical resources, and access to Sky’s infrastructure. Teams that pass risk and governance reviews may qualify for additional funding from Sky. Recently, Sky authorized the deployment of up to $2.5 billion USDS to Obex projects through a governance vote.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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