OpenTrade Secures $7 Million Funding to Enhance Yield-Bearing Stablecoins
OpenTrade has secured $7 million in a funding round led by Notion Capital and Mercury Fund, increasing its total funding to $11 million within six months.
Key details include:
- The company focuses on yield-bearing stablecoins for users in unstable economies.
- It operates a “yield-as-a-service” platform for fintech apps, exchanges, and neobanks.
- Clients like Criptan (Spain) and Littio (Colombia) enable users to earn interest of up to 9% on USD and EUR holdings.
- In Argentina and Colombia, where dollar accounts are rare, OpenTrade-powered apps offer competitive returns—Littio users can earn up to 6% compared to less than 0.4% offered by local banks.
- OpenTrade manages $47 million in assets and has processed nearly $200 million in transaction volume, growing at 20% month over month.
- The new capital will enhance operational scaling and tech improvements.
Investors highlight the crucial role of stablecoins, which collectively have a market cap of $240 billion, in supporting OpenTrade's infrastructure for future fintech developments.