rewrite this title and make it good for SEO Obex Raises $37M to Build Incubator for RWA-Backed Stablecoin Projects – NFTgators

Quick take:

Obex is building a Y-Combinator-like incubation program platform for stablecoin projects backed by real-world assets. 

The incubator will run for 12 weeks, offering early-stage founders capital, technical resources, and access to Sky’s infrastructure.

Teams that pass risk and governance reviews may qualify for additional capital from Sky’s $2.5 billion deployment into Obex projects.

Obex has secured $37 million in a funding round led by Framework Ventures, LayerZero, and the Sky ecosystem. The new crypto incubator plans to use the capital to launch an incubation program for stablecoins backed by real-world assets. 

According to the company’s website, Obex incubates, supports, and provides teams with capital to launch innovative yield-seeking stablecoins on the Sky protocol.

The company’s Y-Combinator-like incubation program runs for 12 weeks, offering early-stage founders capital, technical resources, and access to Sky’s infrastructure. Projects that pass the incubation stage may qualify for additional capital from Sky’s $2.5 billion deployment into Obex projects.

According to Obex, each project developed as part of the incubator program will be launched as an independent decentralized project within the broader Sky ecosystem, with the primary targets being projects that require stablecoin or tokenized asset financing. The program is also open to existing stablecoin projects pursuing additional growth or diversification.

“While we see stablecoins going to a trillion [dollar market], I think yield-bearing stablecoins are moving even faster,” Vance Spencer, co-founder of Framework Ventures, told CoinDesk.

The company is targeting early 2026 for the start of the next cohort of the Obex incubator program.

The fundraising comes amid the growing popularity of stablecoins after the signing into law of the GENIUS Act, a bill that provides clarity for regulating digital assets pegged to fiat currencies and real-world assets.

It also comes amid growing concerns for synthetic stablecoins, which are stablecoins that generate yield from crypto trading strategies deployed behind the scenes. More recently, such stablecoins, including Stream Finance’s USDX and Elixir’s deUSD, depegged following the Balancer exploit.

But Spencer believes Obex has derived a solution to protect projects under its program from the adverse effects of such events. “We cannot have people creating $500 million stablecoins and blowing them up,” he said. “Sky has the infrastructure to scale these safely.”

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