Obex, the Framework Ventures-backed incubator, has begun deploying $1 billion to connect Sky’s USDS stablecoin with income-generating real-world assets, including AI data centers, housing, and energy infrastructure.
The move aims to break DeFi’s reliance on circular crypto yields by integrating tokenized assets from firms like Maple, USD.ai, Daylight, Centrifuge, Securitize, River, TVL Capital, and Better. These partnerships will create new yield streams and expand USDS utility across platforms.
Sky, issuer of the $10 billion USDS stablecoin and a leading DeFi lending protocol, generated $435 million in annualized revenue in 2025. It now targets a $20 billion stablecoin supply by next year.
Obex received a mandate last year to allocate up to $2.5 billion of Sky’s reserves into real-world assets (RWAs). “We’re moving beyond circular DeFi yield toward high-quality returns from structured credit, fintech, energy, AI CapEx, and real estate,” said Parker Edwards, Framework Ventures partner.
The tokenized RWA market has tripled to $26 billion in the past year, driven by demand for stable, predictable returns.
