Osero, a stablecoin yield infrastructure project incubated by Stablewatch and Soter Labs, raised $13.5 million in a funding round led by Sky Ecosystem and co-led by Plasma.
According to reports, the angel investors in this funding round include USDT0, Maple, Accountable, Four Pillars, RedStone, The Rollup, and Kairos Research.Announcement
According to reports, the market capitalization of stablecoins has surpassed $300 billion. Data from DeFiLlama shows that the majority of the income generated by the assets backing these stablecoins still flows to issuers such as Circle and Tether, leaving holders without direct returns, and making it difficult for fintech companies to offer stablecoin savings products without managing the underlying assets themselves.
Osero is launching three products: Osero Earn, which allows wallets, neobanks, custodians, and exchanges to embed Sky Savings rates into their interfaces; Osero App, which enables users to access these rates directly across chains; and Osero Foundry, which provides asset managers and structured product issuers with a way to tokenize yield products.
According to the company, integrating Osero Earn requires only about 10 lines of code. The product routes deposits to Sky Savings Rate accounts, while Osero handles the underlying asset management, routing, and risk management infrastructure.
Osero Foundry will provide up to $25 billion in capital allocation capacity for anchor financing, swap liquidity, and loan liquidity. Osero states that each capital deployment will undergo a Basel III-compliant risk assessment.
The $13.5 million raised will be used to fund Osero’s first Foundry projects. This capital will cover the initial projects deployed under the risk framework evaluated through the Sky Protocol process.
Sky (formerly MakerDAO) has been expanding the balance sheet and distribution network of its USDS and sUSDS. Sky received a B- rating from S&P last year. This was the first time the agency has issued a credit rating for a DeFi protocol.
Projects backed by Sky Investment have also entered the yield-generating real asset space. In March, Obex stated that $1 billion is being deployed across credit, energy, and AI assets to expand stablecoin yields.
Plasma is a co-lead investor in this funding round and is building a blockchain focused on stablecoins. The company raised $373 million in its token sale last year. In an oversubscribed sale.