OpenPayd expects to complete its merger with Titan Acquisition Corp. and list on Nasdaq by the end of this year, Chief Executive Iana Dimitrova told CoinDesk. The company plans to trade under the ticker OP once listed.
The transaction still depends on several conditions, including the U.S. Securities and Exchange Commission declaring the registration statement effective and approval from Titan shareholders. Based on the announced terms, the deal implies a pro forma equity value for OpenPayd of up to $1.1 billion.
Client base and payments infrastructure
OpenPayd provides accounts, foreign exchange, and domestic and international payment services for companies including Kraken, B2C2, and OKX. It also offers infrastructure that supports conversion between fiat currencies and stablecoins. The company has connected to the Circle Payments Network and the Fireblocks payments network.
U.S. expansion plan
Last month, OpenPayd brought MSB USA Inc. and its 43 state money transmitter licenses into the group. The company said it plans to launch services for U.S. clients by April 2027.
Financials and deal-related funding plans
For the fiscal year ended April 30, 2026, OpenPayd reported $73 million in revenue, up from $57 million in the previous fiscal year. EBITDA was $13 million, while net loss came to $2.8 million. A company spokesperson said the entire loss was due to a one-time $5.8 million transaction cost tied to the merger.
Dimitrova said OpenPayd is interested in acquiring companies that can bring licenses or technology to speed entry into new markets. She said a public listing would give the company capital as well as publicly traded stock that could be used in transactions and partnerships. OpenPayd is also considering a private placement before the merger to raise growth capital.