OpenTrade funding news – London-based OpenTrade has Secured $4Million in Seed Extension Funding

Purpose of fund raising

The funding will help it to improve its current products and develop new ones, including yield products backed by a variety of asset types.

Launched in late 2022 and based in London, it allows companies to offer interest-earning stablecoin products backed by real-world financial assets. These products are fully integrated into existing apps, systems, and operations.

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Stablecoins, like USDC, are pegged to a fiat currency (such as the US dollar) to provide a stable medium of exchange. OpenTrade’s platform offers faster, cheaper, and more accessible alternatives to traditional financial systems.

Funds are secured through OpenTrade’s legal, off-chain asset management structure. As demand for stablecoin yield products grows, the funding will help OpenTrade scale its operations and expand its global sales and marketing efforts to attract new clients.

This funding round follows several high-profile partnerships, including with global crypto trading platform WOO X and Colombian neobank Littio.

David Sutter, CEO of OpenTrade, commented: “Stablecoins play a critical role in the crypto ecosystem, bridging that gap between digital assets and traditional finance. As the crypto ecosystem continues to mature, our technology empowers fintechs and exchanges to offer stablecoin yield products that are seamlessly integrated, safe and fast, matching high demand levels. This funding allows us to continue on our growth trajectory, building products for some of the biggest and most important leaders in the space. The caliber and experience of our partners is testament to the solutions we’ve built and the fantastic team we’ve got here at OpenTrade. Onwards and upwards.”

Jay Wilson, Partner at AlbionVC, added: “The job David and his team have done to successfully take their core product to market and secure high-profile partnerships is hugely impressive, especially given the business has only been operational for a short period of time. Stablecoin yield products are in high demand right now, but many businesses don’t know where to start in terms of building their own offering. That’s the gap in the market filled by OpenTrade who are building a core piece of infrastructure, offering a seamless and safe solution for partners to build and operate their own leading stablecoin yield products. I’m excited to work closely with David and the team on the next stage of their journey.”

About OpenTrade

OpenTrade offers a high-quality platform for yield products, designed for fintechs and institutional investors in both Web2 and Web3 ecosystems. Their platform combines technology with legal and operational support to provide safe, compliant, and scalable yield products for the future of financial services and markets.