Expansion of Yield-Bearing Products Platform by OpenTrade through $4 Million Extension Round Funding
OpenTrade, a platform built on Circle, the digital assets firm behind the USDC stablecoin, has secured $4 million in an extended funding round. The funding round was led by AlbionVC, with participation from a16z Crypto, CMCC Global, and other investors.
With this new capital, OpenTrade aims to accelerate its growth trajectory and expand its product offerings. The company plans to revamp its client success systems to ensure seamless onboarding and operational integration for FinTechs, payment providers, and neobanks.
OpenTrade's platform enables fintech companies and institutions to create and offer compliant, safe stablecoin yield products backed by investment-grade real-world assets (RWAs). This move is expected to foster greater stability and confidence in the stablecoin market, addressing ongoing regulatory scrutiny and market demand for stable, transparent crypto assets.
The integration of tokenized real-world assets into blockchain finance enhances security and compliance, providing fintechs with access to on-chain structured finance products that enhance compliance and safety in stablecoin yield offerings. This also contributes to the development of more secure and compliant stablecoins, a critical aspect given the current market landscape.
OpenTrade's CEO, David Sutter, stated that the funding will enable them to continue on their growth trajectory. Jay Wilson, Partner at AlbionVC, commented on his company's leading role in the funding, stating that stablecoin yield products are in high demand.
To date, OpenTrade has processed over $100 million in transactions and allows asset managers to create yield-bearing lending products on the blockchain. The company's growth has enabled it to help crypto futures and spot trading platforms like Woo X launch USD-denominated wealth-building opportunities to over 100,000 users.
The revamping of client success systems is just one part of OpenTrade's planned use of the fresh capital. The company did not disclose the exact amount of the extended funding round. OpenTrade's work to back stablecoin yield products with real-world, investment-grade assets positions it as a key infrastructure provider for fintechs leveraging blockchain to create trustworthy stablecoin products, supported by recent funding and investor confidence from groups like Notion Capital and Mercury Fund.
OpenTrade, with the newly secured $4 million,aims to boost its growth and introduce more diverse product offerings, particularly in revamping client success systems for smooth onboarding of FinTechs, payment providers, and neobanks. The platform's innovative approach of incorporating tokenized real-world assets into blockchain financewill enhance the security and compliance of fintech companies, boosting the demand forstable, transparent crypto assets and stablecoins in the technology-driven business landscape.
