RWA News: Sky-Backed Obex Raises $37M to Build 'Y Combinator' for Stablecoins
Obex, a new crypto incubator backed by Framework Ventures and Sky, raised $37 million to fund yield-generating stablecoins using real-world assets.Summary
Obex, a new crypto incubator, has secured $37 million in funding, led by Framework Ventures, LayerZero, and the Sky ecosystem, to foster the next generation of yield-generating stablecoins backed by real-world assets (RWA).
The initiative aims to apply institutional-grade risk controls to stablecoin projects by investing in those utilizing RWA-backed strategies, focusing on compute credits (like tokenized GPU infrastructure), energy assets, and fintech credit. Obex is designed to mitigate failures seen in synthetic stablecoins by leveraging Sky's infrastructure and underwriting capabilities, with Sky authorizing up to $2.5 billion in USDS to deploy into qualified Obex projects.
Framework Ventures co-founder Vance Spencer described Obex as a "Y Combinator for stablecoins," noting the current gap is not in ideas but in the necessary infrastructure to underwrite and scale these projects safely to meet the rapidly growing market for yield-bearing stablecoins.
(Source：CoinDesk)