Singapore-based Sky Singapore has successfully closed a $10 million Series A funding round for its SKY public blockchain. The investment was led by Japan’s leading mobile payment platform, PayPay, signaling a strong push to merge conventional financial systems with emerging blockchain technology.

Other notable participants in the round include cross-border fintech provider Fumao, digital payment firm Airwallex, and Singaporean Web3 infrastructure developer MetaComp. The funding highlights growing investor confidence in scalable and compliant blockchain solutions.

A Vision Fueled by Strategic Partnerships

The new capital is earmarked for upgrading the SKY main network, expanding its developer ecosystem, and forging new institutional partnerships across the Asia-Pacific region. The project aims to build a high-performance distributed network optimized for high-concurrency transactions with low gas fees and multi-chain compatibility.

The collaboration with its investors is central to SKY’s strategy. PayPay’s network of over 50 million users in Japan offers a massive retail base for adoption. Meanwhile, Fumao and Airwallex provide access to cross-border trade clients, creating opportunities for blockchain-based supply chain finance and settlement. MetaComp will contribute regulatory and technical support, helping to build a compliant on-chain financial ecosystem.

Inside SKY’s Technical Architecture

SKY’s infrastructure is built on several key technological innovations designed for security, scalability, and ease of use. At its core is the Obelisk consensus algorithm, which moves away from energy-intensive Proof-of-Work (PoW) systems. It uses a trust-based network where nodes monitor each other, automatically isolating malicious actors to prevent attacks.

To achieve scalability, SKY uses a parallel chain architecture called “Fiber.” This framework allows for a large number of customizable subchains to run in parallel, each tailored for specific applications like gaming or finance. Data storage is managed by the CO Object System, a peer-to-peer service that combines blockchain’s immutability with the efficiency of a Content Delivery Network (CDN).

For smart contracts, SKY developed its own Go-based programming language, CK, which is designed to guarantee determinism and enhance security. The project also provides toolkits to lower the barrier for developers creating decentralized applications (DApps). Privacy is addressed through Skywire, a decentralized communication network that supports anonymous transactions using CoinJoin technology to obscure the origin and destination of transfers.

Building a Real-World Ecosystem

SKY is focused on practical applications that bridge the gap between digital assets and the real economy. A key initiative is the tokenization of Real World Assets (RWA), allowing assets like U.S. Treasuries to be brought on-chain through its SkyLink protocol.

The ecosystem also includes USDS, an overcollateralized stablecoin inspired by MakerDAO’s DAI. On the gaming front, KittyCash demonstrates the network’s capacity to handle complex on-chain applications, while SkyMessenger provides a foundation for encrypted, decentralized social media.

The Bridge to a New Financial Era

The CEO of Sky Singapore stated that the project’s goal is to become a key hub connecting traditional finance with decentralized ecosystems. This successful funding round, backed by major players in the payments and fintech industries, validates SKY’s approach.

By combining an innovative tech stack with strategic financial partnerships, SKY is positioning itself to play a significant role in the evolution of both enterprise-grade Decentralized Finance (DeFi) and cross-border settlement solutions.

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