UK’s OpenPayd Targets Nasdaq Listing This Year via Titan Acquisition Merger, Speeds US Expansion

UK payments infrastructure company OpenPayd is seeking to enter the US stock market this year. It plans to accelerate its US expansion and pursue additional mergers and acquisitions.

OpenPayd Chief Executive Officer Iana Dimitrova told CoinDesk on October 4 that the US Securities and Exchange Commission’s review of its merger with special purpose acquisition company Titan Acquisition is in its final stages. Barring any major external disruptions, the merger should be completed within the year, she said. The company plans to complete its Nasdaq listing by year-end.

Titan Acquisition is the SPAC OpenPayd is merging with to list on Nasdaq. Once the deal closes, OpenPayd will trade under the ticker OP. The company is targeting a valuation of about $1.1 billion.

OpenPayd plans to use proceeds from the listing first to expand its US business. The company is targeting a US service launch by April 2027. Last month, it acquired money transmitter licenses, or MTLs, in 43 US states, securing a foundation for its local operations.

After the listing, the company also plans to step up acquisitions. Dimitrova said OpenPayd is interested in businesses that could help it bring products to market faster by acquiring technology or licenses. It is also considering a private placement to raise growth capital before the merger.

OpenPayd provides payments infrastructure that supports money movement between fiat currencies and stablecoins. Crypto exchanges including OKX and Kraken, as well as market makers, use its infrastructure. Dimitrova described OpenPayd as global infrastructure for modern money movement and said no listed competitor offers the same combination of fiat and stablecoin capabilities.