CoinDesk
OpenPayd expects its merger with Titan Acquisition Corp. to close by year-end, putting the London-based payments firm on course for a Nasdaq listing under the ticker OP. CEO Iana Dimitrova said the company aims to launch services for U.S. customers by April 2027. OpenPayd reported $73 million in revenue for the year ended April 30, 2026, up from $57 million a year earlier. Under the announced deal terms, its implied pro forma equity value could reach $1.1 billion.
Why it matters
OpenPayd provides accounts, foreign exchange and payment services alongside infrastructure for moving between traditional currencies and stablecoins. It has integrated with Circle Payments Network for cross-border payments and joined Fireblocks’ payments network, where participants can access its fiat infrastructure. Kraken, B2C2 and OKX are among its customers.
The company has brought MSB USA Inc. and its 43 state money transmitter licenses into the group ahead of the planned U.S. launch. Dimitrova sees opportunities in cross-border payments and stablecoin services, despite delays to broader U.S. digital-asset market-structure legislation.
Market impact
A listing would give OpenPayd access to capital and publicly traded shares for acquisitions and partnerships. Dimitrova said the firm is interested in deals that add licenses or technology faster than it could build those capabilities itself. It is also considering a private placement ahead of the merger.
The transaction is not final. The registration statement must become effective, Titan shareholders must approve the deal, and other conditions remain. OpenPayd reported $13 million in EBITDA and a $2.8 million net loss for its latest financial year; a company spokesperson attributed the loss entirely to $5.8 million in one-time costs tied to the proposed merger.
Frequently asked questions
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What must happen before OpenPayd can complete its Nasdaq listing?
Its merger with Titan Acquisition Corp. requires an effective registration statement, approval from Titan shareholders and other closing conditions.
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When does OpenPayd plan to launch services for U.S. customers?
CEO Iana Dimitrova said OpenPayd aims to launch services for U.S. customers by April 2027.
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How many U.S. state money transmitter licenses has OpenPayd brought into its group?
OpenPayd brought MSB USA Inc. and its 43 state money transmitter licenses into the group ahead of its planned U.S. launch.
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How does OpenPayd plan to use a public listing for acquisitions?
Dimitrova said a listing would provide access to capital and publicly traded shares for deals and partnerships. The company is interested in businesses that add licenses or technology.
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What revenue did OpenPayd report for its latest financial year?
OpenPayd reported $73 million in revenue for the year ended April 30, 2026, up from $57 million a year earlier.
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