OpenTrade raises $17M to expand RWA stablecoin services

OpenTrade raised $17 million in a strategic funding round led by Mercury Fund and Notion Capital, the London-based company announced. The capital will expand permissioned and permissionless yield infrastructure, grow the vault-focused service Curation+, and scale custody and asset management for institutional clients. The firm plans hires across asset management, trading and engineering and will create a dedicated customer success function.

OpenTrade routes client deposits into tokenized vaults that allocate capital across a mix of yield sources, primarily real-world assets such as fixed-income instruments alongside selected decentralized finance strategies. Each vault follows a defined allocation strategy and uses smart contracts to manage deposits, track positions and distribute returns. The company reported surpassing $200 million in total value locked in April.

In a company statement, CEO David Sutter wrote that OpenTrade’s legal structure was built to offer products globally while complying with existing traditional finance and digital-asset rules. He wrote that the platform’s model draws on securities lending in traditional finance but is adapted for lending stablecoins rather than securities, and he noted that product availability may vary by market and by investor qualification.

The fundraising arrives amid debate over how to regulate stablecoin rewards under a broader market-structure bill. Lawmakers are considering a compromise that would allow usage-based rewards such as cashback or discounts while prohibiting interest on idle stablecoin balances. Sutter wrote that recent regulatory progress should be supportive for the industry.

The $17 million raise brings OpenTrade’s total funding to $30 million. Previous rounds include a $4 million seed round in November 2024 and a $7 million strategic round in June 2025. Other investors have included a16z Crypto, Circle Ventures and Polygon Ventures. Founded in 2023 by David Sutter and Jeff Handler, both former Centre consortium staffers, OpenTrade targets fintech firms and institutional investors with compliant, scalable yield products that use on-chain infrastructure for allocations and reporting.