Obex Deploys $1B to Link Sky's USDS to RWA Yield; USDS Supply Near $10B

Obex, a cryptocurrency incubator, said it has deployed $1 billion to connect the Sky ecosystem's USDS stablecoin with real-world asset (RWA) yield strategies. The capital will target credit, energy and AI-related assets, including tokenized exposure to AI data centers, housing and energy infrastructure. Obex said the initiative is designed to reduce reliance on cyclical, crypto-native sources of yield and offer USDS holders more sustainable, higher-quality returns. Sky is the world's third-largest stablecoin issuer, with roughly $10 billion of USDS outstanding. The company generated about $435 million in annualized revenue in 2025 and plans to lift USDS supply to more than $20 billion next year. Obex had previously been authorized to allocate up to $2.5 billion of Sky's reserves into RWA strategies; the $1 billion deployment is the first capital put to work. Partners include Maple, USD.ai, Daylight, Centrifuge, Securitize, River, TVL Capital and Better.