Stablecoins: The New Piggy Bank for Grown-Ups with Too Much Money

by

Finance

What to know (or what to pretend to know at your next dinner party):

  • OpenTrade, a company that sounds like a hipster’s garage sale but is actually a stablecoin infrastructure platform, just raised $17 million. Because nothing says “financial stability” like a term that sounds like a yoga pose.
  • Led by Mercury Fund and Notion Capital, this funding round brings their total to over $30 million. Apparently, people really believe in the future of money that’s as stable as my commitment to a diet.
  • Based in London and regulated by the FCA (which I assume stands for “Financial Cat Wranglers”), OpenTrade plans to expand its infrastructure and grow its teams. Because who doesn’t love a good permissioned vs. permissionless debate?
  • Last year, they reported $5.67 million in total value locked and $250 million in transaction volume. Which is impressive, considering my total value locked is about $12 in loose change under my couch.

In a move that screams “we’re serious about this,” OpenTrade closed a $17 million funding round led by Mercury Fund and Notion Capital, with a16z Crypto, AlbionVC, and CMCC Global throwing in their two stablecoins. This brings their total funding to over $30 million, which is roughly the amount I’d need to stop eating ramen.

The London-based company (because where else would you base a fintech firm?) plans to use the funds to expand its permissioned and permissionless infrastructure. Because nothing says “innovation” like jargon that makes your head spin.

This raise comes hot on the heels of earlier backing from a16z Crypto, as OpenTrade expands its offerings for fintechs, exchanges, wallets, and institutional clients. Because if you’re not offering stablecoin-based yield products in 2023, are you even trying?

OpenTrade’s platform enables fintechs, exchanges, and wallets to offer stablecoin yield products backed by real-world assets (RWAs). Their total value locked is $5.67 million, and they processed over $250 million in transaction volume last year. Which is more than I’ve processed in my entire life, both financially and emotionally.

“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, before probably taking a sip of his artisanal cold brew.

The stablecoin market has grown to over $310 billion in supply, driving demand for infrastructure that connects digital assets to yield strategies across traditional and decentralized finance. Or, as I like to call it, “the future of money, probably.”

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2026-05-06 16:17