OpenTrade, a London-based infrastructure platform specializing in stablecoins, has successfully closed a new funding round worth $17 million. Mercury Fund and Notion Capital led the investment, with major participation from a16z Crypto, AlbionVC, and CMCC Global. This fresh capital brings OpenTrade’s total funding to over $30 million.
Planned use of new funds
OpenTrade plans to allocate the new investment toward expanding its platform’s reach and boosting its technical capabilities. The company aims to widen both its permissioned and permissionless infrastructures, while strengthening its asset management and trading teams. Additionally, according to OpenTrade, the funding will support further hiring and platform development initiatives.
Services and target industry
OpenTrade’s infrastructure primarily serves fintech companies, cryptocurrency exchanges, digital wallets, and various institutional investors. The platform supplies the technical foundation and support for these organizations to offer stablecoin-based yield products to their customers. OpenTrade currently manages $5.67 million in total value locked, while transaction volume on its infrastructure exceeded $250 million in 2023.
OpenTrade CEO and co-founder David Sutter said, “OpenTrade has made it much easier for fintechs and next-gen banks to seamlessly integrate institutional-grade stablecoin yields into their products.” He also noted that the platform is working to expand its services to include non-custodial platforms, corporate treasuries, and asset issuers, emphasizing OpenTrade’s goal to help securely and scalably connect stablecoins to a variety of yield strategies.
Trends and growth in the stablecoin market
OpenTrade highlights the rapid growth in the stablecoin sector, with global supply now surpassing $310 billion. This explosive expansion is driving demand for new infrastructure solutions that bridge traditional and decentralized finance. OpenTrade seeks to meet that demand, supporting the wider rollout of stablecoin products backed by real-world assets.
The platform also facilitates safer and more efficient access for fintech firms and institutional clients looking to offer stablecoin-based yields. Solutions integrated with real-world asset-backed platforms are broadening the use cases for stablecoins, making them more versatile in the financial sector.
Among OpenTrade’s investors, a16z Crypto stands out for its global footprint and strong track record of funding technology and crypto ventures. Mercury Fund and Notion Capital have gained recognition in Europe for supporting fintech and technology startups. OpenTrade aims to leverage the expertise and resources of these established funds to accelerate product development and expand its market presence.
In summary, OpenTrade’s latest funding round points to the growing interest in innovative financial infrastructure and stablecoin-focused solutions. The company continues to extend its service network for both traditional and digital financial institutions, signaling ongoing momentum for this segment within the broader crypto space.
