UK Fintech OpenTrade Snags $7M to Boost Stablecoin Yields in Inflation Hellholes 🤑💰

by

What to know:

  • OpenTrade raised a whopping $7M from Notion, Mercury, and others, bringing their total funding to a cool $11M. 🎉
  • Their platform powers stablecoin yields for users in countries where inflation is higher than a hot air balloon. 🎈
  • Users can earn up to 9% on USD and EUR, which is like finding a gold mine compared to traditional bank options. 🏦💰

OpenTrade, the fintech darling, has just snagged $7 million in a strategic round led by Notion Capital and Mercury Fund, with a little help from a16z crypto, AlbionVC, and CMCC Global. This latest funding brings the London-based company’s total haul to $11 million in just six months, proving that investors are as excited about their mission as a kid in a candy store. 🍭

The company runs a “yield-as-a-service” platform that’s like a financial superhero for fintech apps, exchanges, and neobanks. Clients like Criptan in Spain and Littio in Colombia use OpenTrade’s backend to let users earn interest — up to 9% — on their USD and EUR holdings. It’s like getting a raise just for keeping your money in the right place! 💸

In countries like Argentina or Colombia, where dollar bank accounts are as rare as a unicorn and offer interest rates that are practically non-existent, apps powered by OpenTrade let users earn meaningful returns straight from their phones. In Colombia, for instance, banks offer less than 0.4% APR on dollars. Littio users, on the other hand, can get up to 6%. It’s like night and day! 🌙🌞

OpenTrade currently manages $47 million in assets and has processed close to $200 million in volume, growing at a rate of 20% month over month. The new capital will help the company scale operations and improve their tech stack, making them even more unstoppable. 🚀

“OpenTrade is building core financial infrastructure for the next generation of fintech,” said Mercury Fund’s Samantha Lewis. Notion Capital’s Itxaso del Palacio added that with stablecoins’ $240 billion market cap, OpenTrade’s infrastructure is a much-needed foundation for the sector. It’s like they’re laying the bricks for a financial fortress! 🏰

Read More

2025-06-11 09:13