PANews reported on November 25 that London-based financial technology company OpenTrade announced the completion of a $4 million seed round of extension financing, led by AlbionVC, with participation from existing investors a16z Crypto and CMCC Global. The financing will be used to expand operations, enhance product functionality, and develop other services including income products supported by new asset types.
Since its founding in late 2022, OpenTrade has processed over $100 million in trading volume, providing clients including WOO X and Littio with stablecoin yield products based on real assets (such as U.S. Treasuries), with an annualized yield of between 3% and 6%, without the cost and complexity of repatriating funds to the traditional banking system.
