Home / Business and Economy / Crypto Incubator Obex Secures $37M for Yield Stablecoins
Crypto Incubator Obex Secures $37M for Yield Stablecoins
20 Nov
Summary
- Obex raised $37 million to foster yield-generating stablecoins.
- Focus on real-world assets and institutional-grade risk controls.
- Program offers capital, resources, and access to Sky's infrastructure.
A new crypto incubator named Obex has secured $37 million in funding to nurture the development of innovative yield-generating stablecoins. This initiative is supported by prominent investors including Framework Ventures, LayerZero, and the Sky ecosystem, aiming to accelerate the growth of stablecoins within the expanding cryptocurrency market.
Obex's core mission involves investing in and providing capital to projects that integrate real-world asset-backed strategies onto the blockchain. The incubator emphasizes the importance of applying institutional-grade risk management and underwriting practices to this rapidly evolving sector, thereby fostering greater stability and trust among users and investors.
The incubator plans to launch a comprehensive 12-week program for early-stage teams, offering essential capital, technical resources, and crucial access to Sky's robust infrastructure. This program is designed to help promising projects scale safely and effectively, avoiding the pitfalls that have affected previous stablecoin ventures.
