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OpenPayd Wants Nasdaq Process Wrapped Up by Year-End

OpenPayd aims to complete its Nasdaq listing process by the end of the year to help finance expansion and acquisition plans in the U.S. Iana Dimitrova, CEO of the London-based payments infrastructure company, said the review by the U.S. Securities and Exchange Commission (SEC) of the planned merger with Titan Acquisition Corp. has reached its final stage.

The deal is expected to close this year, but that still depends on the registration statement becoming effective, approval from Titan shareholders and the completion of other closing conditions. If the process is finalized, the company is expected to trade on Nasdaq under the ticker OP.

According to the terms announced by the company, the implied pro forma equity value after the merger could reach $1.1 billion. OpenPayd is also considering a private placement before the merger to support its growth plans.

Why is the U.S. market so important?

Management believes the U.S. has become more attractive for crypto firms thanks to regulatory steps in digital assets and stablecoins. The federal GENIUS Act and rules being prepared by the U.S. Securities and Exchange Commission for certain crypto assets are opening new business areas for firms that bridge traditional finance and blockchain networks.

OpenPayd aims to launch services for U.S. customers by April 2027. As part of that preparation, the company added MSB USA Inc. and its money transmission licenses in 43 states to the group last month.

Infrastructure and acquisition plans

OpenPayd has integrated with Circle Payments Network for cross-border payments; it has also joined Fireblocks' payments network, opening its fiat infrastructure to other participants. Management believes acquiring companies with licenses or technology in new markets could be a faster way to build these capabilities than developing them from scratch.

  • Access to capital for U.S. expansion
  • Use of a public share structure for acquisitions
  • Greater scale in cross-border payments and stablecoin services

What do the financial results say about the market?

According to the investor presentation, OpenPayd's revenue for the fiscal year ended April 30, 2026 was $73 million. That marked an increase from $57 million in the previous year.

The company reported $13 million in EBITDA in the same period, while net loss came in at $2.8 million. A company spokesperson said the loss was entirely driven by $5.8 million in one-off transaction costs related to the proposed merger.

OpenPayd provides infrastructure for accounts, foreign exchange, domestic and international payments, as well as rails that move between fiat currencies and stablecoins. Its payment infrastructure is used by firms including Kraken, B2C2 and OKX.

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