Obex Deploys $1 Billion to Expand Sky Stablecoin's RWA Yield Strategy

Sky, formerly MakerDAO, is a long-established DeFi lending protocol and the issuer of the USDS stablecoin. Framework Ventures-backed Obex is responsible for allocating Sky's reserves to real-world assets, or RWAs. The strategy is designed to reduce reliance on yields generated within crypto markets and extend asset tokenization into traditional industries.

Obex launched a $1 billion deployment on March 25, 2026, with an initial group of partners comprising Maple, USD.ai, Daylight, Centrifuge, Securitize, River, TVL Capital and Better. The investments span credit, housing, energy and AI infrastructure. The funding is part of Sky's authorization for up to $2.5 billion in RWAs, while USDS has about $10 billion in circulation.