Crypto incubator Obex completes $37 million funding round

Jinse Finance reported that cryptocurrency incubator Obex has completed a $37 million funding round, with specific investors yet to be disclosed. The new funds will be used to support the development of yield-bearing stablecoins led by Framework Ventures, LayerZero, and the Sky ecosystem. The initiative aims to invest in and fund projects that bring on-chain strategies backed by real-world assets (RWA), introducing institutional-level risk control and underwriting practices to this rapidly evolving sector. Obex will become the latest capital allocation vehicle under Sky (formerly MakerDAO). Sky is the entity behind the DAI and USDS stablecoins, which together have a combined market capitalization of $9 billion. Through Obex, Sky will leverage its substantial protocol reserves to provide expansion capital for projects and earn yields from these strategies.