The $1 Billion Bet That Could Transform Crypto Forever w/ Parker Edwards

Obex and Sky deploy a $1B incubator to bring real-world assets on-chain—tokenizing mortgages, energy, AI GPU loans, and structured credit while bootstrapping institutional USDS products.

Key Takeaways

Obex launched a $1B incubator (part of a $2.5B mandate) to bootstrap institutional USDS-denominated RWA products across eight vetted teams.
Selected cohort (Maple, Securitize, Centrifuge, Daylight, USDAI, Better Home, River, TVO) focuses on scalable, cash-flowing assets: mortgages, energy, AI GPU loans, and structured credit.
Sky's USDS grew ~80% last year; sUSDS yields ~375 bps and Sky is guiding toward a $20B USDS supply to power yield-bearing RWA products.
Selection prioritizes teams that both originate and underwrite assets, with distribution partners and regulatory clarity to deploy capital at scale.
Key infrastructure gaps remain—secondary markets, Grove/Basin, off-chain lending and other primitives must be built to unlock RWA liquidity.
Obex’s model is intentionally replicable; builders are invited to participate, with live deployments and updates tracked at info.sky.money and social channels.

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