OpenTrade raises $17 million to connect stablecoins to real-world assets
OpenTrade secured $17 million to enhance its stablecoin yield and RWA lending platform, expanding infrastructure and teams.Summary
OpenTrade, a stablecoin yield and real-world asset (RWA) lending platform backed by a16z Crypto, has successfully closed a $17 million funding round. The round was led by Mercury Fund and Notion Capital, with additional participation from AlbionVC and CMCC Global. This brings OpenTrade's total funding to over $30 million. The company plans to use the new capital to expand its permissioned and permissionless infrastructure, as well as grow its asset management and trading teams. OpenTrade provides infrastructure for fintechs, exchanges, and wallets to offer stablecoin yield products backed by RWAs. The platform has a total value locked of $5.67 million and processed over $250 million in transaction volume last year. CEO David Sutter highlighted the platform's ease of use for integrating institutional-grade stablecoin yield and its expansion to serve non-custodial platforms and asset issuers seeking diversified yield strategies.
(Source：CoinDesk)