What OpenTrade does

OpenTrade is a London-based fintech, founded in 2023 and operated by Open Trade Technology Ltd (England and Wales, company number 14583521), that provides institutional-grade stablecoin yield infrastructure to fintech platforms, neobanks, crypto exchanges and custodians, stablecoin issuers, treasury managers, and foundations. The platform exposes a suite of yield-bearing vaults backed by high-quality real-world assets (USDC and EURC money market funds from Fidelity, WisdomTree, and Franklin Templeton; corporate bond, CLO, and ETF products from BlackRock, WisdomTree, Janus Henderson; trade finance and commercial paper) and crypto-native strategies (delta-neutral SOL staking via Figment, DeFi strategies in the Sierra vault). The technology stack comprises a blockchain protocol forked from Circle Research's Perimeter Protocol, REST APIs, a web application (app.open-trade.io), and ERC-20 vault tokens (e.g., xSOLY), with multi-chain support across Ethereum, Solana, and Avalanche and wallet integrations including Fireblocks, Safe{Wallet}, and WalletConnect.

OpenTrade's bankruptcy-remote Cayman Segregated Portfolio Company (OpenTrade SPC) acts as sole Borrower, with assets held in segregated accounts at regulated financial institutions, FCA-regulated Five Sigma Finance Ltd. serving as Investment Advisor, Vantru (Mulvaney Trustees UK) as Security Trustee, and AWR Capital as the algorithmic execution advisor. This structure underpins a service layer called Curation+, which delivers customized vault configurations (including the Prime+ fixed-rate USD vault at MMF rate + 2.00%) for clients with bespoke yield, risk, and collateral requirements.

The company monetizes through a Platform Service Fee paid by the Borrower under the Master Loan Agreement, functioning as a spread/fee on yield generated by the lending and yield infrastructure, supplemented by managed-services fees for Curation+ deployments and channel distribution via Figment's institutional client base of 700+. OpenTrade has raised approximately $30 million across rounds (most recently a $17M strategic in May 2026 led by Mercury Fund and Notion Capital), with prior backing from a16z crypto, AlbionVC, CMCC Global, Circle Ventures, and Polygon Ventures. Named customers include Ontop, WOO X, Buenbit, Kredete, Criptan, Midas Kripto, Littio, belo, and Glim, collectively reaching millions of end users across LATAM, Africa, Turkey, Spain, APAC, and a global payroll footprint of 150+ countries. Total value locked surpassed $200M in April 2026, with 2026 transaction volumes projected to exceed $1B.

Name

OpenTrade

Legal name

Open Trade Technology Ltd

Website

https://opentrade.io

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

OpenTrade provides institutional-grade stablecoin yield infrastructure to fintechs, neobanks, exchanges, and treasury managers, offering white-labelled vaults backed by tokenized real-world assets (USDC/EURC money market funds, bonds, ETFs) and crypto-native strategies via a bankruptcy-remote Cayman SPC and a blockchain protocol forked from Circle Research's Perimeter Protocol.

Ownership category

akta.pro rank

Product category

Stablecoin Yield Infrastructure

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199)

akta.pro primary industry

On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)

akta.pro secondary industries

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)

Keywords

• Stablecoin yield infrastructure
• Tokenized treasury products
• Real world asset lending
• White label yield API
• Embedded fintech banking

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Platform Service Fee: In consideration of providing the Platform, Borrowers (OpenTrade SPC) pay fees to OpenTrade in accordance with the Master Loan Agreement. Revenue is generated from spread/fee on yield generated via the lending and yield infrastructure.
2. Yield-as-a-Service for Fintechs & Neobanks: Institutional-grade yield infrastructure provided to fintech platforms, neobanks, exchanges, custodians, and stablecoin issuers; clients earn a margin on capital deployed through OpenTrade's vault products.
3. Curation+ Customized Vaults: Premium service layer for clients with custom yield targets, defined risk parameters, complex collateral mandates, and blended RWA / on-chain strategies.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

OpenTrade provides an institutional-grade stablecoin yield infrastructure platform that enables fintechs, neobanks, exchanges, custodians, stablecoin issuers, and treasury managers to power white-labelled, embedded yield products for their customers. Its platform combines a blockchain protocol (a fork of Circle Research's Perimeter Protocol), REST APIs, and a web application to deliver USDC, USDT, and EURC yield vaults backed by tokenized real-world assets and curated on-chain strategies, all structured through a bankruptcy-remote Cayman SPC.

Product overview

OpenTrade is a unified institutional-grade stablecoin yield infrastructure platform, offered as a platform-plus-modules architecture centered on a blockchain protocol and REST APIs that expose a suite of yield-bearing vaults and supporting solutions. The core product is a Treasury Management & Yield Product (the "Platform") running on the OpenTrade Blockchain Protocol (a fork of Perimeter Protocol from Circle Research) and the OpenTrade Web Application, accessed via API/SDK and a set of supported digital wallets (Fireblocks, Safe{Wallet}, WalletConnect). On top of this core sit the named product modules: the USDC Money Market Fund Yield Vault (XTBT, XMMF, XFTB), the EURC Money Market Fund Vault, Public and Private Fixed Income Yield Vaults, the Curated On-Chain and DeFi Strategy Vaults, the Sierra LP Strategy Vault, the bespoke Curation+ service layer (which includes the Prime+ Vault), and the Solana-based OpenTrade Stablecoin Staking Yield (powered by Figment). These are packaged into five go-to-market solution tracks: Neobanks & Fintechs, Exchanges & Custodians, Stablecoin Issuers, Treasury Managers, and Foundations & Networks.

Differentiator

Problem solved

Functional benefit

Brands

• Sierra: OpenTrade's separately branded DeFi / real-world-asset yield strategy product offering a dynamically rebalanced portfolio of real-world assets and blue-chip DeFi strategies (approximately 3.75–4% target yield), with its own dedicated website (sierra.money) and dashboard (app.sierra.money/transparency).

Products and services

• USDC Money Market Fund Yield Vault (XTBT, XMMF, XFTB) Stablecoin yield vault offering approximately 3.14% APY on USDC, backed by Fidelity, WisdomTree, and Franklin Templeton USD Money Market Funds. Allows fintechs to offer predictable, RWA-backed dollar-denominated yield to their users.
• EURC Money Market Fund Vault Euro-denominated yield vault offering approximately 1.73% APY on EURC, backed by EUR Sovereign Bonds and EUR Money Market Funds. Enables European-focused yield products.
• Public and Private Fixed Income Yield Vaults Multi-asset yield vaults offering approximately 2.50–13.50% APY backed by USD and EUR corporate bonds, CLOs and other ETFs issued by BlackRock, WisdomTree, and Janus Henderson, plus trade finance, commercial paper, and more.
• Prime+ Vault Curation+ vault that enables fintechs and neobanks to generate fixed-rate USD yield at USD MMF Rate + 2.00% APY with daily liquidity, without managing portfolios or absorbing rate volatility.
• Sierra (Sierra LP Strategy Vault) Dynamically rebalanced portfolio offering approximately 3.75–4% APY backed by real-world assets and blue-chip DeFi strategies; eligible yield sources include algorithmically managed delta-neutral staking and curated SIERRA ecosystem strategies such as concentrated liquidity provision and Pendle market positions.
• Curated On-Chain and DeFi Strategy Vaults DeFi-focused yield vaults offering approximately 6.00–13.50% APY, including algorithmically managed delta-neutral staking and curated SIERRA ecosystem strategies.
• Curation+ Service layer for clients whose requirements go beyond pre-configured vault products — specific yield targets, defined risk parameters, complex collateral mandates, or blended real-world asset and on-chain strategies.
• OpenTrade Stablecoin Staking Yield (powered by Figment) Solana-based stablecoin yield product targeting approximately 15% yield via SOL staking rewards paired with delta-neutral perpetual futures hedging; custodied by Crypto.com with staking infrastructure from Figment. Investors deposit USDC and receive xSOLY vault tokens.
• OpenTrade Web Application Web-based front-end for the OpenTrade platform supporting user onboarding, vault investment, withdrawals, and reporting.
• OpenTrade Blockchain Protocol On-chain protocol underpinning OpenTrade products, built on a fork of the Perimeter Protocol developed by Circle Research; exposes mainnet contract addresses and is independently audited.
• Neobanks & Fintechs Solution Solution package enabling neobanks and fintechs to power white-labelled, embedded stablecoin yield products for their customers using USDC, USDT, and EURC.
• Exchanges & Custodians Solution Solution package enabling crypto exchanges and custodians to power white-labelled, embedded stablecoin yield products for their customers (e.g., WOO X RWA Earn Vaults).
• Stablecoin Issuers Solution Solution package enabling stablecoin issuers to back their USD and EUR-denominated stablecoins with programmable reserves infrastructure.
• Treasury Managers Solution Solution package providing treasury managers with the tools to manage treasuries fit for the new digital economy, including idle stablecoin balance deployment into yield-generating RWA-backed vaults.
• Foundations & Networks Solution Partnership solution enabling foundations and networks to bring high quality stablecoin yield products and solutions to their ecosystems.

Quantifiable outcome

• Total value locked surpassed $200M in April 2026
• +8 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature7 records

Partnerships

16 partnerships are on record, tiered flagship customer partnership, flagship technology partner, core technology partner, core operational partner, flagship operational partner and core customer partnership.

• Ontopflagship customer partnershipStrategic or Co-development Partner · 20 May 2026Launched 3% APR (later 6% APR) USD rewards program for global workers integrated into the Ontop Global Account; integrated in under one month. Ontop serves 17,000+ workers across 150+ countries and processed $1B+ in payroll in 2025. OpenTrade serves as Ontop's sole rewards program provider.
• Figmentflagship technology partnerStrategic or Co-development Partner · 17 November 2025Co-developed OpenTrade Stablecoin Staking Yield, powered by Figment, launching a Solana-based stablecoin yield product targeting 15% yield. Figment provides SOL staking infrastructure, access via the Figment App and APIs, and serves 700+ institutional staking clients.
• Crypto.comcore technology partnerTechnology or Integration · 17 November 2025Provides custody and is a venue for SOL and perp futures trading for the Stablecoin Staking Yield product; Figment, OpenTrade, and Crypto.com jointly offer 15% stablecoin yield to institutions.
• OKXcore technology partnerTechnology or IntegrationVenue on which SOL and perp futures are traded for the Stablecoin Staking Yield product; the strategy seeks to optimise for funding rates across OKX and Crypto.com.
• Circle Internet Financial LLCflagship technology partnerTechnology or IntegrationIssuer of USDC and custodian via Circle Mint; USDC invested in the Stablecoin Staking Yield product is initially transferred to a Circle Mint account. Perimeter Protocol was developed by Circle Research, on which OpenTrade is built.
• AWR Capitalcore operational partnerImplementation/ SI/ Consulting PartnerLondon-based algorithmic trading hedge fund serving as Investment Advisor to OpenTrade SPC; responsible for execution of the delta-neutral SOL carry trade. Contractually bound to act in ways that ensure OpenTrade SPC can meet investor obligations.
• Five Sigma Finance Ltd.flagship operational partnerImplementation/ SI/ Consulting PartnerLondon-based, FCA-regulated investment firm (over $800M AUM); manages day-to-day operations of OpenTrade SPC, updates the exchange rate daily, and issues weekly attestations showing vault assets and liabilities.
• Vantru (Mulvaney Trustees (UK) Ltd.)core operational partnerImplementation/ SI/ Consulting PartnerServes as Security Trustee under the Security Trust Deed, holding a master security interest in underlying loan collateral on behalf of Lenders.
• Criptanflagship customer partnershipStrategic or Co-development PartnerPowers Criptan Earn product delivering up to 7% APY on USDC and up to 3.50% APY on EURC; Criptan manages over €50M in client assets; €500,000 paid out in user earnings.
• Littioflagship customer partnershipStrategic or Co-development PartnerPowers USD and EUR Earn Pots for 80,000+ users across Colombia; 6% APY; $100M+ transactions processed; $250K+ user earnings in first 4 months.
• WOO Xflagship customer partnershipStrategic or Co-development PartnerPowers RWA Earn Vaults (USDC Yield, High Yield Corporate Bond/HYCB backed by iShares SHYG) for WOO X; 7.20% APY; +50% of USDC deployed; APAC exchange with $600M+ daily volume.
• beloflagship customer partnershipStrategic or Co-development PartnerPowers USDC/USDT Money Market Fund (Fidelity) Yield Vaults for belo treasury and savings products; 4% APR; 3M+ users across 18 countries.
• Kredeteflagship customer partnershipStrategic or Co-development PartnerPowers "Kredete Earn" embedded yield product; 2-9% yield on USDC/USDT/EURC; 500K+ users across 41+ African countries.
• Glimcore customer partnershipStrategic or Co-development PartnerPowers 3% APY automatic USD yield within the Glim app via seamless API integration; 10,000+ employees across 100+ Colombian companies.
• Buenbitflagship customer partnershipStrategic or Co-development PartnerLATAM's top exchange offers 7% APR to 4M+ users via OpenTrade.
• Midas Kriptocore customer partnershipStrategic or Co-development PartnerPowers USDT Staking Rewards at 4% backed by Fidelity's Institutional US Money Market Funds; 500,000 users; ranked Top 5 among crypto apps in Turkey.

Scale indicators20 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Sky (formerly MakerDAO):
• Circle: Circle is the issuer of USDC and developed the Perimeter Protocol on which OpenTrade is built. It operates a much broader stablecoin/payments ecosystem and is both a key partner and potential competitor for institutional yield infrastructure.
• Aave: Aave is the largest decentralized lending protocol, offering stablecoin lending markets and increasingly RWA integrations via Aave V3. It serves as a broad incumbent for on-chain stablecoin yield that fintechs could alternatively tap directly.

Direct peers

• Ondo Finance: Ondo Finance offers tokenized U.S. Treasuries and RWA-backed yield products (e.g., USDY, OUSG) targeting both institutional and retail access. It is the most prominent direct competitor in the tokenized-Treasury yield space that OpenTrade also serves.
• Maple Finance: Maple Finance provides institutional-grade on-chain lending and credit markets, including yield products for stablecoins. It targets a similar institutional borrower/lender base and competes for the same fintech and treasury manager wallets.

Emerging players

• Morpho: Morpho is a DeFi lending protocol with institutional-facing Morpho Blue vaults and partnerships with RWA issuers (e.g., Steakhouse Financial, Gauntlet). It competes for the same on-chain lending and yield opportunities as OpenTrade's DeFi strategy vaults.
• Centrifuge: Centrifuge is an RWA tokenization protocol enabling asset managers to tokenize receivables, invoices, and other real-world assets for on-chain financing. Its Tinlake structure overlaps with OpenTrade's RWA yield offerings from the asset-origination side.
• Pendle: Pendle is a yield-tokenization protocol enabling trading of fixed and variable yield on underlying assets. It is referenced as an eligible yield source within OpenTrade's Sierra strategy, and competes for DeFi-savvy yield users.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/opentrade_io
• LinkedInlinkedin.com/company/opentrade-io

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OpenTrade