Obex operates an accelerator that finances and supports early-stage teams building yield-bearing stablecoins collateralized by high-quality real-world assets such as compute credits, municipal-scale energy projects, and loans to large fintech companies. The incubator runs a 12-week program that supplies capital, technical resources, and access to Sky’s on-chain infrastructure while enforcing institutional-grade risk management and underwriting. As the newest capital-allocation arm of Sky (the entity behind the DAI and USDS stablecoins), Obex can tap into Sky’s governance-approved commitment of up to $2.5 billion in USDS to scale successful cohort projects. The firm positions itself as a “Y Combinator for stablecoins,” aiming to prevent the peg failures that have plagued several synthetic stablecoins by insisting on transparent, asset-backed structures. Stablecoins are viewed by the team as a trillion-dollar market opportunity, with yield-bearing variants expected to grow even faster. Obex has secured $37 million in outside funding to launch the platform and has not yet reported revenue or user metrics.

Total raised

$37M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2025