OpenTrade completes $17 million in funding, with total funding exceeding $30 million

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Techub News reports that, according to CoinDesk, the stablecoin infrastructure platform OpenTrade has completed a $17 million funding round, led by Mercury Fund and Notion Capital, with participation from a16z Crypto and others, bringing the total funding to over $30 million. The company plans to use the funds to expand both permissioned and permissionless infrastructure, as well as grow its asset management and trading teams. The platform offers stablecoin yield products based on real-world assets to fintech companies, exchanges, and wallets, with a total locked value of $5.67 million, and a trading volume exceeding $250 million last year. This funding comes at a time when the stablecoin market size has surpassed $310 billion, as the company is expanding its services to non-custodial platforms, treasuries, and asset issuers.

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