OpenTrade, an institutional lending platform, raised $17M in a strategic round led by Mercury Fund and Notion Capital with backing from a16z crypto and others.
DeFi & Yields ·
OpenTrade, an institutional lending platform, has closed a $17 million strategic funding round led by Mercury Fund and Notion Capital, with participation that includes a16z crypto, AlbionVC, and CMCC Global. The funding arrives as the platform has reached $200 million in total value locked.
The capital will support expansion of OpenTrade's stablecoin yield infrastructure, targeting institutional-grade lending operations. The platform's ability to attract a syndicate including established crypto investors suggests confidence in its institutional lending model and product direction.
Key details remain unspecified: the exact timing of the round's close, how the capital will be allocated across specific development or business priorities, and what metrics or milestones OpenTrade aims to achieve with this funding. The platform's competitive positioning within the broader DeFi lending landscape and the terms of investor involvement are also not yet detailed.