London-based OpenTrade has successfully completed a funding round amounting to $17 million on Wednesday, led by Mercury Fund and Notion Capital. Additional contributors included a16z Crypto, AlbionVC, and CMCC Global, bringing the firm’s total raised capital to over $30 million. The funds will be allocated towards broadening both its permissioned and permissionless infrastructure while supporting expansion efforts for its asset management and trading teams.
This latest round of funding follows previous investments from a16z Crypto as OpenTrade enhances its services for fintechs, exchanges, wallets, and institutional clients interested in stablecoin-based yield products. The company facilitates the creation of stablecoin yield offerings by providing infrastructure and support, ensuring these are backed by real-world assets (RWAs). According to OpenTrade, it holds a total value locked at $5.67 million and reported processing over $250 million in transaction volume last year.
“OpenTrade simplifies the integration of institutional-grade stablecoin yields into fintechs’ and neobanks’ products,” stated David Sutter, CEO and co-founder of OpenTrade. “Our platform is now also catering to non-custodial platforms, treasuries, and asset issuers who need a reliable, scalable method to link stablecoins with diverse yield strategies,” he added.
With the stablecoin market supply exceeding $310 billion, there’s increasing demand for infrastructure that bridges digital assets with yield strategies in both traditional and decentralized finance sectors, OpenTrade noted.