The DeFi project OpenTrade has completed a $4 million seed extension round of financing, led by AlbionVC

the DeFi project OpenTrade announced the completion of a $4 million seed extension round of financing to build RWA-backed loan and stablecoin yield products. This round of financing was led by AlbionVC, with participation from a16z Crypto and CMCC Global.

OpenTrade CEO David Sutter stated: "Stablecoins play a crucial role in the crypto ecosystem, bridging the gap between digital assets and traditional finance. As the crypto ecosystem continues to mature, our technology enables fintech companies and exchanges to offer seamlessly integrated, secure, and fast stablecoin yield products to meet high demand levels."

According to RootData, OpenTrade is built on Circle's payment and DeFi infrastructure, allowing regulated asset management companies to create on-chain lending products with yield-bearing capabilities by depositing USDC or EURC into on-chain vaults with specific investment criteria and target yields.