Osero, a stablecoin yield infrastructure startup incubated by Stablewatch, has secured $13.5 million in a funding round led by the Sky Ecosystem (formerly MakerDAO), as it seeks to accelerate the adoption of Sky’s stablecoin products USDS and sUSDS.
Plasma, the developer of a Layer 1 blockchain focused on stablecoin payments, co-led the round, with participation from RedStone, The Rollup, Kairos Research, and angel investors including Maple co-founder Joe Flanagan and USDT0 co-founder Lorenzo Romagnoli, as well as Accountable and Four Pillars. The round closed in March after beginning in December 2025 and was structured entirely as a simple agreement for future tokens (SAFT), founder Piotr Saczuk told The Block. The valuation was not disclosed.
Osero was created to build savings infrastructure around Sky’s stablecoins, offering three main products: Osero App — a simple web interface for retail and institutional users to access the Sky savings rate; Osero Earn — a solution that lets wallets, neobanks, custodians, and exchanges embed the Sky savings rate into their interfaces with only about 10 lines of code, while Osero handles asset management and risk; and Osero Foundry — designed for asset managers and structured product issuers to bring yield products onchain with up to $2.5 billion in allocation capacity for anchor funding, swap liquidity, and lending liquidity.
Of the total raised, $10 million is earmarked as a reserve buffer to protect users and the Sky Protocol from potential losses. Each Foundry deployment will go through a risk assessment framework inspired by Basel III banking regulations. Saczuk explained that Sky operates like a central bank, with agents such as Osero handling distribution and targeting distinct segments without competing for the same users, thus expanding the total addressable market for Sky’s ecosystem.
Osero’s business model will generate revenue from a share of every USDS and sUSDS balance distributed through Earn and the app, and from the spread between yield on institutional allocations and the Sky Base Rate. Stablewatch, the development company behind Osero, currently has 13 employees and plans to hire in credit strategy and business development.
Sky Ecosystem has been actively expanding its balance sheet and distribution network. Last year, Sky received a B- credit rating from S&P — the first for a DeFi protocol. In March, another Sky-backed project, Obex, announced it was allocating $1 billion across credit, energy, and AI assets to expand stablecoin yield.
The stablecoin market has grown to over $300 billion, yet most yield from backing assets goes to issuers like Circle and Tether, leaving holders without direct returns. Osero aims to bridge that gap by providing transparent, sustainable returns on idle stablecoins without forcing platforms to manage assets themselves.
