Obex completes a $37 million financing round, aiming to create the "Y Combinator" of RWA collateralized stablecoins.

Odaily News According to Coindesk, the encryption incubator Obex has announced that it has completed a $37 million financing round led by Framework Ventures, LayerZero, and the Sky ecosystem. Obex's core goal is to incubate and fund the next generation of yield-bearing stablecoin projects and is described as the “Y Combinator” of the stablecoin space. Core strategic focus areas: Obex will focus on stablecoin strategies backed by high-quality real-world assets (RWA), adhering to institutional-level risk control standards to avoid the failures seen in previous synthetic stablecoins. The role of Sky: Obex will become the capital allocator for the Sky ecosystem (the successor to MakerDAO, which has the USDS stablecoin). The Sky ecosystem has authorized the deployment of up to $2.5 billion of USDS to qualified projects incubated through Obex via governance voting, providing funding support and scalability for these stablecoin strategies. Vance Spencer, co-founder of Framework Ventures, stated that Obex will offer a 12-week incubation program, providing early teams with capital, technical resources, and access to Sky infrastructure, aiming to address the lack of rigorous risk infrastructure in the current yield-bearing stablecoin market.