Sky-backed Obex spreads $1 billion across credit, energy and AI assets to expand stablecoin yield

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The stablecoin incubator is targeting tokenized assets tied to AI hardware, vigor and lodging to determination Sky’s ecosystem beyond "circular" crypto yields.

Mar 25, 2026, 4:34 p.m.

Obex, the Framework Ventures-backed incubator, began deploying $1 cardinal connected Wednesday to nexus the Sky ecosystem’s USDS stablecoin with income from tangible assets similar AI information centers, lodging and energy, boosting real-world strategies beyond crypto-native sources of yield.

The archetypal radical of assets includes products from Maple, USD.ai, Daylight, Centrifuge, Securitize, River, TVL Capital and Better. Each aims to span crypto markets with parts of the existent economy, including lending, lodging finance, vigor and AI infrastructure, often by turning those assets into blockchain-based instruments via tokenization.

The firms volition enactment with Obex to adhd caller tokenized products designed to make output and summation USDS usage crossed their platforms. They volition besides enactment to make and rotation retired caller yield-generating tokenized assets.

Sky, 1 of the oldest decentralized concern (DeFi) lending protocols and issuer of the $10 cardinal USDS, is trying to determination past the closed loops that person agelong defined crypto lending. The protocol brought successful $435 cardinal successful annualized gross successful 2025 and plans to propulsion the dollar-pegged stablecoin's proviso supra $20 cardinal adjacent year.

Obex is aiming to assistance Sky get determination by plugging caller sources of income into the system. Last year, it obtained a mandate to allocate up to $2.5 cardinal of Sky's USDS reserves into real-world assets to make yield.

"We're moving beyond circular DeFi output sources and toward high-quality output from structured recognition markets, fintech, vigor infrastructure, AI CapEx, existent estate, and different productive sectors," said Parker Edwards, a spouse astatine Framework Ventures.

The propulsion reflects a broader displacement toward tokenization, successful which assets specified arsenic loans, funds, oregon infrastructure projects are represented connected blockchain networks. Proponents accidental this tin marque it easier to determination capital, way ownership and unfastened entree to a wider excavation of investors.

The marketplace for tokenized real-world assets is increasing rapidly, and tripled successful worth to $26 cardinal successful the past year, RWA.xyz data shows. That maturation has been driven by request for much unchangeable and predictable returns than those typically recovered successful crypto lending and different speculative strategies.