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Crypto Assets incubator Obex completes $37 million in financing.
On November 19, according to CoinDesk, the Crypto Assets incubator Obex completed a $37 million financing, with specific investment teams yet to be disclosed. The new funds will be used to support the development of yield-generating stablecoins led by Framework Ventures, LayerZero, and the Sky ecosystem. The plan aims to invest in and fund projects that bring real-world asset (RWA) backed strategies on-chain, introducing institutional-level risk control and underwriting practices to this rapidly developing field. Obex will become the latest funding allocation method under Sky (formerly MakerDAO). Sky is the entity behind the DAI and USDS stablecoins, which have a combined market capitalization of $9 billion. Through Obex, Sky will leverage its vast protocol reserves to provide expansion funds for projects and derive returns from these strategies.