London-based crypto startup OpenTrade offers a platform for scalable, compliant yield products for fintechs and institutional investors. It has secured $4 million in a seed extension round led by AlbionVC, with support from CMCC Global. The funds will be used to scale operations and expand its team.
- Founded in 2022 by Dave Sutter, Jeff Handler, and Tom Niermann, OpenTrade develops a platform for scalable, compliant stablecoin yield products designed for fintechs and institutional investors across both Web2 and Web3 ecosystems.
- The platform combines advanced technology, a legal framework, and off-chain banking infrastructure to offer safe, compliant, and scalable yield solutions that support the next generation of financial services and markets.
- OpenTrade’s products use Circle’s USDC to settle transactions quickly, ensuring fast and efficient operations in financial markets. The platform incorporates legal frameworks, bankruptcy-remote SPVs managed by regulated asset managers, and segregated accounts at regulated financial institutions to ensure trust and transparency.
- The company also offers API integrations and blockchain protocols for secure and smooth connections with applications and back-office systems. Since its mainnet launch in 2024, the company has processed almost $100M in transactions.
Details of the deal
- The seed extension round was led by AlbionVC, a London-based venture capital firm managing $1 billion in funds and supporting over 50 companies. AlbionVC focuses on supporting early-stage software, healthcare, and deep tech startups across the UK.
“The job David and his team have done to successfully take their core product to market and secure high-profile partnerships is hugely impressive, especially given the business has only been operational for a short period of time," Explains Jay Wilson, Partner at AlbionVC.
- The round also saw participation from existing investors a16z Crypto, American VC Draper Dragon, and CMCC Global, a blockchain-focused venture capital firm with offices in Hong Kong, Toronto, and Berlin.
- The startup plans to use the capital to scale its operations, expand its sales, marketing, and implementation teams to support new global clients, and enhance its product offerings. Additionally, the funds will be used to develop new yield products backed by a range of asset types.
“This funding allows us to continue on our growth trajectory, building products for some of the biggest and most important leaders in the space. The calibre and experience of our partners are a testament to the solutions we’ve built and the fantastic team we’ve got here at OpenTrade. Onwards and upwards," OpenTrade's team, commented on LinkedIn
