OpenTrade secures £3.2m seed extension led by AlbionVC to scale operations
The funding round was led by AlbionVC with participation from a16z Crypto and CMCC Global.
OpenTrade provides institutional-grade infrastructure that allows fintechs and neobanks to offer real-world asset-backed stablecoin yield products. Its platform connects digital asset holders with dollar and euro denominated returns.
OpenTrade has secured £3.2m in a seed extension round to scale its operations and enhance product capabilities. The financing was led by AlbionVC, with participation from returning investors a16z Crypto and CMCC Global.
The capital will support the company as it meets growing demand for stablecoin yield products from fintechs and neobanks. OpenTrade plans to expand its sales, marketing and implementation teams while developing new offerings backed by additional asset types.
The raise follows a period of commercial momentum for the London-based firm, including high-profile partnerships with WOO X and Littio. The platform has processed over $100m in total transaction volumes since inception.
From the founder
"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."
David Sutter
CEO at OpenTrade
Investor perspective
"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."
Jay Wilson
Partner, Albion
Use of funds
- 01Invest in sales and marketing
- 02Continue product development
- 03Scale operations
Investors
Categories
About the company
OpenTrade
OpenTrade provides infrastructure that enables fintechs to offer stablecoin yield products.