UK's OpenTrade Raises $7M to Expand Stablecoin Yield Access in Inflation-Hit Markets
OpenTrade has raised $7 million in a strategic round led by Notion Capital and Mercury Fund, with backing from a16z crypto, AlbionVC, and CMCC Global. The latest funding brings the London-based company's total haul to $11 million in just six months, a signal of investor confidence in the startup's push to bring yield-bearing stablecoins to users in unstable economies.
The company runs a 'yield-as-a-service' platform designed for fintech apps, exchanges, and neobanks. Clients like Criptan in Spain and Littio in Colombia use OpenTrade's backend to let users earn interest — up to 9% — on USD and EUR holdings.
In countries like Argentina or Colombia, where dollar bank accounts are rare and offer negligible interest, apps powered by OpenTrade let users earn meaningful returns straight from their phones. In Colombia, for instance, banks offer less than 0.4% APR on dollars. Littio users can get up to 6%.
OpenTrade manages $47 million in assets and has processed close to $200 million in volume, growing 20% month over month. The capital injection will help the company scale operations and improve its tech stack.
"OpenTrade is building core financial infrastructure for the next generation of fintech," said Mercury Fund's Samantha Lewis. Notion Capital's Itxaso del Palacio added that stablecoins' $240 billion market cap makes OpenTrade's infrastructure a needed foundation for the sector.
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