Obex raises $37M to support RWA stablecoin development

Cryptocurrency incubator Obex has raised $37 million in a funding round led by Framework Ventures, LayerZero, and the Sky ecosystem to support the development of a yield-bearing stablecoin, CoinDesk reported. The project aims to bring real-world asset (RWA) collateral strategies on-chain with institutional-grade risk controls to prevent the failures observed in other synthetic stablecoins.