OpenTrade, a London, UK and Palo Alto, CA-based provider of an enterprise grade treasury management platform, raised an undisclosed amount in funding.
The round was led by Sino Global Capital, with participation from Circle Ventures, Kronos Research, Kyber Ventures, Polygon Ventures, and Outlier Ventures.
The company intends to use the funds to scale its operations, and to launch in the second half of this year.
Founded earlier this year by Dave Sutter, Jeff Handler, Tom Niermann, Michael Harte, and Michele Biscelgia, OpenTrade is an enterprise grade treasury management platform that provides access to a suite of on-chain structured financial products backed by investment grade, liquid financial assets. This provides Web3 institutions, businesses, and investors the ability to preserve capital, maintain liquidity, and earn stable, predictable returns that are uncorrelated to crypto price volatility, all while ensuring they can continue to operate entirely on-chain.
The company’s initial products will include liquidity pools for U.S. Treasury Bills, investment grade commercial paper, and investment grade supply chain finance. The supply chain finance products embed USDC payments and financing directly in B2B networks and platforms to make internet-native, on-demand financing available to businesses of all sizes from a global network of non-bank liquidity providers.
OpenTrade’s DeFi protocol is built on Circle’s payments infrastructure, runs on Polygon and Ethereum.
