Osero raises $13.5M led by Sky Ecosystem to build stablecoin savings on Plasma

Osero, a stablecoin savings infrastructure project incubated by Stablewatch, has closed a $13.5 million funding round to build what it calls a stablecoin savings account on Plasma. Sky Ecosystem, the entity formerly known as MakerDAO, and Plasma led the investment.

Where the money is actually going

Of the $13.5 million raised, roughly $10 million is being allocated as risk capital, designed to cushion stablecoin yields against market volatility.

The round was structured as Simple Agreements for Future Tokens, or SAFTs, a common early-stage crypto fundraising mechanism where investors receive the right to future tokens rather than equity. The project’s valuation was not disclosed.

Beyond Sky and Plasma, the investor roster includes RedStone and Kairos Research.

The risk reserve framework is modeled after Basel III, the set of international banking regulations that emerged from the 2008 financial crisis.

The product roadmap: Earn, App, and Foundry

Osero is building three core products, all centered on stablecoin savings and asset tokenization. The first, Earn, is focused on yield optimization. The second, App, appears to be the consumer-facing savings interface. The third, Foundry, targets asset tokenization.

A critical piece of the strategy involves integrating Sky’s USDS and sUSDS into Osero’s yield optimization framework. USDS is Sky Ecosystem’s rebranded stablecoin (previously DAI), and sUSDS is its savings variant, which accrues yield natively. By plugging these assets into Osero’s infrastructure on Plasma, the project aims to expand the range of DeFi yield options available to users who want stablecoin exposure.

Sky Ecosystem’s expanding influence

Sky Ecosystem’s involvement fits a pattern: fund the infrastructure that gets USDS and sUSDS into more hands, across more chains, through more products.

The SAFT structure of the raise also indicates that Osero likely has a token event on its roadmap but has not yet launched its token.

What this means for investors

The competitive landscape includes protocols like Morpho, Ethena, and Sky’s own savings products, all competing for the same pool of stablecoin capital looking for yield. Osero’s differentiation hinges on building natively on Plasma, with Sky’s backing and a Basel III-inspired risk framework.

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