Opentrade raised $ 7 million in a strategic twist chaired by the Capital and Mercury Fund, with a backward from A16Z Crypto, Albionvc, and CMCC Global. The latest funds bring London -based haul to $ 11 million in just six months, a signal of investor trust in pushing the startup to bring stablecoins that bring yield to users in unstable economies.
The company runs a “Ani-As-a-Service” platform designed for fintech apps, exchanges, and neobanks. Clients like Crimpan in Spain and Littio in Colombia Use Backnd of OpenRade to let users earn interest – up to 9% – in USD and EUR Holdings.
In countries like Argentina or Colombia, where dollar bank accounts are rarely and offer irrelevant interest, Open -enabled apps let users earn a significant return straight from their phones. In Colombia, for example, banks offer less than 0.4% APR in the dollar. Littio users can get up to 6%.
Opentrade manages $ 47 million in properties and is processed near $ 200 million in volume, growing 20% month to the month. Capital injection will help with scale scale operations and improve its tech stack.
“Opentrade is building a major financial infrastructure for the next generation of Fintech,” said Samantha Lewis of the Mercury Fund. Itxaso del Palacio of Notion Capital added that the $ 240 billion market cap of Stablecoins makes the OpenPrade infrastructure a necessary foundation for the sector.
