OpenTrade | Crypto

OpenTrade raised $17 million to expand its stablecoin yield platform, bringing total funding above $30 million as it scales stablecoin yield infrastructure for global clients. OpenTrade, an institutional-grade platform for onchain and real-world asset (RWA)-backed lending and stablecoin yield products, has raised fresh capital to expand its yield infrastructure. The platform secured $17 million in its latest strategic funding round led by Mercury Fund and Notion Capital, OpenTrade said in a Wednesday announcement seen by Cointelegraph. The new funding will support the continued expansion of OpenTrade’s permissioned and permissionless yield infrastructure, as well as the growth of its vault-focused service Curation+, CEO David Sutter told Cointelegraph. Read more

A hedged SOL staking model underpins the new yield product, debuting amid rising institutional demand for regulated access to Solana’s network rewards. Figment and OpenTrade have introduced “OpenTrade Stablecoin Staking Yield,” a new stablecoin yield product that targets a yield of 15% by utilizing Solana staking returns, with Crypto.com providing custody for the underlying assets. According to Monday’s announcement, institutions deposit and withdraw stablecoins, while the yield is produced by Solana (SOL) staking rewards and an offsetting perpetual-futures hedge run by OpenTrade. Deposits and withdrawals are handled through Figment’s platform, with the strategy executed in an OpenTrade-managed vault. Figment said the strategy has historically delivered returns above Solana’s typical 6.5% to 7.5% staking rate. Read more