Stablecoin payment infrastructure OpenPayd plans to list on Nasdaq via SPAC, with a valuation of US$1.145 billion

On June 1st, stablecoin payment infrastructure platform OpenPayd announced a definitive business combination agreement with special purpose acquisition company (SPAC) Titan Acquisition Corp. Upon completion of the transaction, OpenPayd will be listed on Nasdaq under the ticker symbol "OP," with a post-combination enterprise valuation of approximately $1.145 billion. OpenPayd currently offers stablecoin trading services, with clients including eToro, Kraken, and OKX. It is understood that if Titan shareholders do not redeem their shares, OpenPayd expects to receive up to $276 million in financing to strengthen its balance sheet and expand its financial infrastructure capabilities.