OpenTrade, a firm specializing in stablecoin yield products, has secured a $4 million seed extension round led by AlbionVC. The company, which operates on the Circle platform, enables asset managers to develop yield-bearing onchain lending products. This new funding will support OpenTrade's growth and product development, as stated by CEO David Sutter. Previously, in April, OpenTrade raised $3.2 million in seed funding from investors including a16z's crypto startup accelerator, CMCC Global, Draper Dragon, Ryze Labs, and Plassa Capital, bringing their total funding to $4.45 million at that time. Additionally, the market capitalization for real-world asset products reached nearly $4 billion on November 24, according to The Block's Data Dashboard.

Built on Circle, OpenTrade lets asset managers create yield-bearing onchain lending products."This funding allows us to continue on our growth trajectory, building products for some of the biggest and most important leaders in the space," said OpenTrade CEO David Sutter in the statement.In April, OpenTrade raised $3.2 million in seed funding from a16z's crypto startup accelerator (CSX), CMCC Global, Draper Dragon, Ryze Labs and Plassa Capital to amass $4.45 million in total funding at the time, The Block previously reported.The daily market capitalization from real-world asset (RWA) products reached nearly $4 billion on Nov. 24, The Block's Data Dashboard shows.

OpenTrade Secures $4 Million Seed Extension Led by AlbionVC