CoinDesk
Stablewatch-incubated Osero raised $13.5 million to build stablecoin yield infrastructure, with Sky Ecosystem leading the round and Plasma co-leading. Angel participants spanned USDT0, Maple, Accountable, Four Pillars, RedStone, The Rollup and Kairos Research.
The thesis: more than $300 billion in stablecoins sit onchain, but most of the yield earned on the reserves backing them still accrues to issuers like Circle and Tether. Osero wants to give holders, wallets, neobanks, custodians and fintechs a direct route to that return without having to manage the underlying assets themselves.
Osero is launching three products. Earn is an embeddable layer that wires the Sky Savings Rate into third-party apps via roughly ten lines of code, with Osero handling asset management, routing and risk. App gives end users direct access to the rate across chains. Foundry offers asset managers and structured-product issuers an onchain yield rail, with up to $2.5 billion in allocation capacity for anchor funding, swap liquidity and lending liquidity, each deployment passing a Basel III-inspired risk review.
Why it matters
Sky — formerly MakerDAO — is the deepest-pocketed DeFi protocol still actively courting institutional distribution, and the B- rating it landed from S&P last year gave it a credibility foothold that most onchain yield products still lack. Leading Osero's round extends that thesis: rather than competing for direct retail deposits, Sky is funding the rails that let every wallet and neobank offer its savings rate as a feature.
The participation of USDT0 alongside Sky is also notable — the two largest stablecoin issuers on opposite sides of the USDS/USDT spectrum both have exposure to a yield-routing layer that sits above either of their reserve strategies.
Market impact
The $13.5 million funds capital requirements for the first cohort of Foundry deployments, with underwriting run through the same risk framework the Sky Protocol uses internally.
Frequently asked questions
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What does Osero actually do?
Osero builds infrastructure that routes stablecoin reserves into yield strategies so wallets, neobanks, custodians and asset managers can offer that return to their users without holding or managing the assets themselves.
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How much did Osero raise and who led the round?
Osero raised $13.5 million in a round led by Sky Ecosystem and co-led by Plasma, with angel participation from USDT0, Maple, Accountable, Four Pillars, RedStone, The Rollup and Kairos Research.
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What are the three Osero products?
Earn is an embeddable layer wiring the Sky Savings Rate into third-party apps. App gives end users direct cross-chain access. Foundry provides asset managers and structured-product issuers an onchain yield rail with up to $2.5B in allocation capacity.
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What is the Sky Savings Rate and why does Osero build on it?
The Sky Savings Rate is the yield protocol the Sky Ecosystem (formerly MakerDAO) pays on sUSDS deposits. Osero builds on it so third parties can offer that same rate as a feature inside their own products.
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How does the $2.5 billion Foundry allocation work?
Osero Foundry sets aside up to $2.5 billion in capacity for anchor funding, swap liquidity and lending liquidity. Each deployment is reviewed under a Basel III-inspired risk framework before capital is committed.
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