Latest news with #MercuryFund
Yahoo
2 days ago
- Business
- Yahoo
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.
Finextra
2 days ago
- Business
- Finextra
Stablecoin-as-a-Service platform OpenTrade raises $7 million
OpenTrade, a provider of yield-bearing stablecoin products for fintechs, has raised $7 million in funding led by Notion Capital and Mercury Fund, with participation from existing investors AlbionVC, a16z crypto, and CMCC Global. 0 This latest round brings OpenTrade's total funding to more than $11 million, secured within just six months, highlighting growing institutional confidence in the potential of providing wider access to dollar- and euro-denominated yields. OpenTrade offers a B2B2C 'yield-as-a-service' model that lets fintechs, exchanges, and neobanks like Belo, BuenBit, Littio, and Criptan embed risk-weighted yields into everyday user experiences. In countries where inflation has eroded savings and restricted access to stable currencies, OpenTrade is enabling millions to earn meaningful yields on USD and EUR holdings directly from their phones. Across Argentina, Colombia, Mexico, Peru, and Spain, more than 5 million retail users now have access to 3-9% APR on their USD and EUR holdings. OpenTrade currently manages $47 million for clients and has processed nearly $200 million in transaction volume over the past year. Samantha Lewis, partner at Mercury, comments: 'OpenTrade is building core financial infrastructure for the next generation of fintech. Their rapid growth underscores both the scale of demand and the strength of their model. They are solving a fundamental gap in the market with the potential to revolutionize global access to high-quality, yield-bearing accounts'
