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

According to official news, the stablecoin payment infrastructure platform OpenPayd announced that it has reached a final business combination agreement with the 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-merger enterprise valuation of approximately $1.145 billion. OpenPayd currently offers stablecoin trading services, with clients including eToro, Kraken, OKX, and others.

It is reported that if Titan shareholders do not redeem their shares, OpenPayd expects to secure up to $276 million in financing to strengthen its balance sheet and expand its financial infrastructure capabilities.