In this post:
- Criptan partners with OpenTrade to power its enhanced Earn product suite.
- The firm said the collaboration will offer stable, predictable returns backed by high-quality financial assets.
- Criptan is now free to move in and out of the OpenTrade yield product at will, with no terms or minimums.
Criptan, a leading Spanish fintech platform specializing in digital asset access, partnered with OpenTrade on Tuesday to power its enhanced Earn product suite. The company said the initiative aims to help power its Criptan Earn product, which generates stable RWA-backed income on USD and EUR stablecoin balances.
The Spanish fintech company has attracted over 85,000 corporate and individual users who can access virtual assets and stablecoin accounts through a seamless UI/UX, solidifying its position as a trusted leader in the European crypto sector. The firm also said its users trust in its strong regulatory and security credentials and track record.
Criptan expects to generate more dollar- and euro-dominated returns
Criptan revealed that the collaboration with OpenTrade will further enhance their existing Earn offering. Since its launch, the Earn product has already paid out over half a million euros in user earnings and surpassed $75 million in assets under management.
Criptan argued that utilizing OpenTrade’s USD Money Market USDC Yield and E.U. Gov Bond EURC Yield products will help the company to produce more stable, predictable returns on both EURC and USDC. According to the firm, the initiative will not impose any additional onboarding requirements or costs on end users. The partnership is also projected to decrease back-office costs and operational overhead.
The leading digital asset platform in Spain highlighted that it can provide the crypto market with a unique value proposition, including superior returns with accessibility, flexibility, and stability unmatched elsewhere in the Spanish market.
Criptan said it provides users with superior returns on euro and dollar balances compared to traditional banks. Traditional financial institutions usually cap euro savings rates at the Euro money market rate, currently at 2.17%, and rarely offer USD yield-bearing accounts to local retail users.
The digital asset company added that it provides users with more stable and predictable returns compared to crypto-native platforms. Those platforms may offer up to 6% APY on selected stablecoins, but rates are often variable and require locking funds for a set period of time.
“Through the partnership, Criptan is bridging the gap between traditional and on-chain finance, delivering a solution that neither can achieve alone. Business and retail users alike can enjoy unhindered access to reliable, institutional-grade yields with no lock-ups or additional fees.”
-Jeff Handler, Co-founder and CCO of OpenTrade.
Jorge Soriano, CEO and co-founder of Criptan maintained that the firm’s mission has always been to democratize access to the benefits of digital finance securely and transparently. He said the partnership with OpenTrade allows the company to take a significant step in bringing institutional-grade investment opportunities to everyday users. Soriano also believes the collaboration strengthens the company’s value proposition and reinforces its commitment to building the future of finance in Europe.
OpenTrade raises $7M to expand stablecoin yield
On June 11, OpenTrade raised $7 million in a strategic round led by Notion Capital and Mercury Fund, with backing from a16z crypto, AlbionVC, and CMCC Global. The company managed to haul roughly $11 million in just six months, showing investor confidence in the startup’s push to bring yield-bearing stablecoins to users in unstable economies.
The firm manages over $47 million in assets and has processed close to $200 million in volume, growing 20% month over month. OpenTrade said the funding will help it scale operations and improve its tech stack.
