Latest news with #OpenTrade
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'
Arabian Post
2 days ago
- Business
- Arabian Post
UK Fintech OpenTrade Secures £5.5M to Boost Stablecoin Yield Services
OpenTrade, a London-based fintech infrastructure provider, has closed a £5.5 million funding round, led by Notion Capital and Mercury Fund, raising its total capital to around £8.5 million since inception. The investment is earmarked to scale its build-out of real-world asset-backed stablecoin yield services across high-inflation markets in Latin America and Europe. OpenTrade embeds 'yield-as-a-service' into fintech apps, allowing users to earn interest on USD and EUR stablecoins—rates that significantly outperform traditional banking options. Fintech clients such as Criptan in Spain and Littio in Colombia now offer yields up to 9%, compared with local bank APRs of under 0.5%. Co-founders Dave Sutter, Jeff Handler, and Tom Niermann have close links to USDC's Centre consortium and hold decades of digital assets experience. They launched OpenTrade in early 2024 to address demand from emerging markets, where inflation erodes savings and dollar-denominated banking returns are negligible. The platform has since managed approximately $47 million in assets and processed nearly $200 million in transaction volume, growing at an average of 20% month-over-month. ADVERTISEMENT The round also saw participation from a16z crypto, AlbionVC, and CMCC Global, reflecting continued investor confidence. OpenTrade intends to direct the funds towards enhancing its technological capabilities, supporting growth in client-facing applications, and broadening its product suite to include a wider range of real-world asset-backed instruments. The company's timing aligns with a broader surge in stablecoin infrastructure. Globally, stablecoin transaction volumes now exceed $20 trillion annually—outpacing conventional payment systems such as Visa, Mastercard, and PayPal. For fintech firms in emerging economies, embedding stablecoin yields into everyday platforms is reshaping perceptions of crypto, transforming digital currencies from purely transactional tools into accessible savings vehicles. Argentina and Colombia exemplify this shift. Dollar accounts are rare, and where available, yields are negligible. In Colombia, dollar-denominated APRs are below 0.4%, while Littio users, through OpenTrade, attract up to 6%. Spain's Criptan offers up to 9% in EUR stablecoin returns—generating user traction by outperforming traditional savings products. Despite the rapid uptake of stablecoins, mainstream users in many regions face roadblocks: regulatory frameworks for safe yield generation have lagged behind adoption. OpenTrade bridges this gap by offering compliant real-world asset backing and embedded yield capabilities, supporting regulatory alignment while extending market reach. This funding arrives amid a regulatory pivot in Europe. The Financial Conduct Authority plans to unveil discussion papers on stablecoin issuance and custody in Q4 2025, aligning with the EU's Markets in Crypto-Assets framework. OpenTrade's growth strategy demonstrates fintechs' ambition to navigate both innovation and regulation in stablecoin infrastructure. Fintech founders view embedded stablecoin yield as essential for financial inclusion. Sutter has emphasized that stablecoins have become crypto's 'killer app' and that over a third of Latin American consumers have used them for purchases. OpenTrade is positioned as an enabler: the platform supports deposits, withdrawals, and yield generation directly within existing fintech interfaces. Investor sentiment adds context. Notion Capital's Itxaso del Palacio remarked that the $240 billion stablecoin market needs robust infrastructure. Mercury Fund's Samantha Lewis described OpenTrade as 'core financial infrastructure for the next generation of fintech'. These endorsements highlight confidence in both OpenTrade's leadership and market relevance. Looking ahead, OpenTrade aims to expand its reach over the next 12–18 months. Key areas include launching new yield products, incorporating diverse asset classes, and enhancing the user experience for fintech clients. The vision is to become the go-to partner for compliant stablecoin yield solutions, competing across developed and emerging economies where rising inflation, currency volatility, and limited access to traditional deposits persist.
