Singapore-based blockchain innovator Sky Singapore has officially announced that its core project, the SKY public blockchain, has successfully completed a $10 million Series A financing round. The round was led by PayPay, Japan’s leading mobile payment platform, with participation from Fumao, a prominent cross-border fintech service provider; Airwallex, a leading digital payment solutions provider in Asia; and MetaComp, a Web3 infrastructure developer based in Singapore.
This financing marks not only strong market recognition of SKY’s technological capabilities and ecosystem potential but also a key milestone in advancing the integration of traditional finance and decentralized technology.
As a next-generation high-performance blockchain infrastructure, SKY aims to build a distributed network that supports high-concurrency transactions, low gas fees, and multi-chain compatibility. Its core technology focuses on enhancing the efficiency and security of on-chain financial applications, showing unique advantages in payment settlement, asset tokenization, and cross-border finance.
The newly raised funds will be allocated toward mainnet upgrades, developer ecosystem expansion, and strategic institutional partnerships across the Asia-Pacific region. By integrating PayPay’s retail payment network in Japan, Fumao and Airwallex’s cross-border trade finance resources, and MetaComp’s compliant digital asset services, SKY will accelerate the adoption of RWA (Real World Asset) tokenization and enterprise-grade DeFi solutions.
Notably, SKY’s ecosystem strategy demonstrates strong synergy with its investors’ business landscapes. PayPay, with over 50 million Japanese users, will drive consumer adoption within the SKY ecosystem; Fumao and Airwallex will leverage their cross-border trade customer bases to explore supply chain finance and settlement systems built on SKY; and MetaComp will provide regulatory and technical infrastructure support to jointly build an on-chain financial ecosystem spanning East and Southeast Asia. This partnership not only reinforces SKY’s positioning as a bridge between traditional and decentralized finance but also provides a new model for blockchain’s role in empowering the real econom
This financing further underscores global investors’ confidence in scalable and compliant blockchain infrastructure. The CEO of Sky Singapore stated: “Our goal with the SKY blockchain is to become the key hub connecting traditional finance with decentralized ecosystems. Through strategic collaborations with PayPay, Fumao, Airwallex, and MetaComp, we will gain multidimensional support in technology, use cases, and compliance, accelerating our vision of achieving financial democratization.”
Technical Architecture Overview
The SKY blockchain’s architecture is designed around three pillars: high performance, security, and developer friendliness.
Consensus Layer: Obelisk Algorithm & Anti-Attack Design
At its core, SKY employs a unique Obelisk consensus algorithm, which abandons traditional Proof-of-Work (PoW) in order to fundamentally address the Byzantine Generals Problem and claims to eliminate the threat of 51% attacks.
Each node maintains a trust network, continuously monitoring the behavior of other nodes. When malicious activity (such as double spending or invalid block publication) is detected, the network automatically isolates the offending nodes, preventing coordinated attacks. Consensus is achieved without mining, making it energy-efficient and resilient under adverse conditions.
Network & Data Layer: Fiber Architecture and CO Storage
For scalability, SKY adopts a “Fiber” parallel chain architecture, a highly customizable blockchain framework that supports an unlimited number of parallel subchains under a main chain. Each subchain can be tailored to specific use cases (e.g., gaming, finance), theoretically enabling infinite transaction scalability.
On the data front, SKY developed a CO Object System, a peer-to-peer cloud storage service designed for distributed environments. It combines blockchain’s immutability with the scalability of a CDN (Content Delivery Network) to avoid congestion caused by excessive data storage on-chain.
Contract & Application Layer: CK Language and Developer Environment
To enhance smart contract reliability, SKY created a dedicated programming language called CK, built on Go. CK is designed to be the first blockchain language guaranteeing determinism at the language level, ensuring high levels of security and reliability for smart contracts.
The project also provides derivative toolkits like CK-Game, simplifying decentralized application and game development. The entire environment emphasizes developer accessibility, aiming to lower the entry barrier for DApp creation.
Privacy & Communication Layer: Skywire Network and Anonymous Transactions
SKY has built a decentralized communication network called Skywire, designed to resist common cyberattacks. Within this network, SKY natively supports CoinJoin transactions — a mixing technology that conceals transaction origins and destinations, providing untraceable and privacy-preserving transfers. Combined with high-performance routing protocols, it ensures enhanced anonymity and network security.
Strategic Ecosystem Collaborations
SKY’s ecosystem strategy focuses on integrating traditional financial resources and expanding cutting-edge blockchain applications.
Finance and Payment Gateways: Bridging Traditional Assets and DeFi
SKY actively promotes on-chain circulation of Real World Assets (RWA). In collaboration with RWAfi solution providers like Plume, SKY has deployed the SkyLink protocol, enabling tokenized real-world assets such as U.S. Treasuries and private credit to be brought on-chain.
Through its high-throughput infrastructure, SKY offers users compliant and accessible financial products. In the stablecoin sector, it has launched USDS, a stablecoin inspired by MakerDAO’s DAI, utilizing an overcollateralized crypto model with an annual yield of approximately 6.25%, strengthening SKY’s presence in the DeFi ecosystem.
Gaming and Social Applications: KittyCash and SkyMessenger
Built on SKY’s Fiber architecture, KittyCash represents a complete on-chain gaming ecosystem, showcasing the network’s ability to handle complex logic and transactions.
Additionally, SkyMessenger provides fully encrypted communications, forming the basis for a decentralized social network (BBS) that explores the next frontier of privacy-centric social applications.
Cross-Border Settlement and Institutional Liquidity
Leveraging its high transaction throughput, SKY focuses on optimizing cross-border payment scenarios. Its ecosystem partners are developing T+0 settlement solutions for cross-border trade and e-commerce, aiming to solve traditional challenges of high cost and slow speed.
Conclusion
In summary, the SKY blockchain seeks to build a secure, efficient, and developer-friendly blockchain infrastructure through innovations such as the Obelisk consensus, Fiber architecture, CK programming language, and Skywire network. Its ecosystem emphasizes bridging real-world financial assets to the blockchain via RWA, while expanding use cases in stablecoins, gaming, and DeFi.
By combining technological innovation with strategic financial partnerships, SKY positions itself as a vital bridge between traditional finance and the decentralized world — paving the way for a more inclusive, transparent, and democratized financial future.
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