PANews reported on June 11 that according to CoinDesk, British fintech company OpenTrade completed a $7 million strategic round of financing, led by Notion Capital and Mercury Fund, with participation from a16z crypto, AlbionVC and CMCC Global. The company focuses on providing stablecoin income services to high-inflation regions, with platform assets under management of $47 million and an average monthly trading volume of $200 million.

OpenTrade provides underlying technical support to partners such as Spain's Criptan and Colombia's Littio through the "income as a service" model, allowing users to obtain up to 9% of USD/EUR stablecoin income through mobile applications. In markets such as Colombia where the bank's USD deposit rate is less than 0.4%, the service can yield up to 6%. The new financing will be used for technology upgrades and business expansion.