OpenTrade raises $17 million to connect stablecoins to real-world assets

The a16z-backed stablecoin yield and RWA lending platform’s funding round was led by Mercury Fund and Notion Capital.

What to know:

• Stablecoin infrastructure platform OpenTrade raised $17 million in a round led by Mercury Fund and Notion Capital, bringing its total funding to more than $30 million.
• The London-based, firm plans to use the capital to expand both its permissioned and permissionless infrastructure and to grow its asset management and trading teams.
• OpenTrade, which enables fintechs and other platforms to offer stablecoin yield products backed by real-world assets, reports $5.67 million in total value locked and more than $250 million in transaction volume last year amid a stablecoin market now exceeding $310 billion in supply.

Stablecoin infrastructure platform OpenTrade closed a $17 million funding round Wednesday led by Mercury Fund and Notion Capital, with participation from a16z Crypto, AlbionVC and CMCC Global, bringing its total funding to more than $30 million.

The London-based company said the funding will be used to expand its permissioned and permissionless infrastructure and support plans to grow its asset management and trading teams.

The raise follows earlier backing from a16z Crypto and comes as OpenTrade expands its offerings for fintechs, exchanges, wallets and institutional clients seeking stablecoin-based yield products.

The firm provides support and infrastructure that enables fintechs, exchanges and wallets to offer stablecoin yield products backed by real-world assets (RWAs). OpenTrade’s total value locked is $5.67 million and claims it processed more than $250 million in transaction volume last year.

“OpenTrade has made it simple for fintechs and neobanks to plug institutional-grade stablecoin yield into their products,” said David Sutter, OpenTrade’s CEO and co-founder. “The platform is expanding to serve non-custodial platforms, treasuries and asset issuers seeking “a safe, scalable way to connect stablecoins to diversified yield strategies,” he added.

The stablecoin market has grown to more than $310 billion in supply, driving demand for infrastructure that connects digital assets to yield strategies across traditional and decentralized finance, the startup said.

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