OpenPayd plans Nasdaq listing by year-end to fund U.S. expansion

OpenPayd is pressing ahead with plans to become a publicly traded payments company by year-end, using a Nasdaq listing to bankroll its entry into the U.S. market. The London-based firm’s merger with a blank-check company carries an implied valuation of $1.1 billion, a figure that will test investor appetite for fintech-crypto hybrids heading into next year.

• OpenPayd expects its merger with Titan Acquisition Corp. to close by year-end, CEO Iana Dimitrova said.
• The company reported $73 million in revenue for the year ended April 30, 2026, up from $57 million a year earlier.
• OpenPayd plans to launch U.S. customer infrastructure by April 2027 after acquiring 43 state money transmitter licenses.

• $1.1B implied pro forma equity value under the Titan merger terms
• $73M fiscal-year revenue, up from $57 million the prior year
• 43 U.S. state money transmitter licenses added via MSB USA
• Apr 2027 target date for launching U.S. customer infrastructure

OpenPayd expects to complete its planned Nasdaq listing by the end of the year as it prepares to enter the U.S. market and pursue further acquisitions, CEO Iana Dimitrova told CoinDesk in an interview. The payments infrastructure provider is in the final stages of U.S. Securities and Exchange Commission review of its proposed merger with Titan Acquisition Corp. Dimitrova said she expects the deal to close this year, barring a significant external disruption.

Titan merger would value OpenPayd at $1.1 billion

The deal still requires the registration statement to become effective and approval from Titan shareholders. OpenPayd would trade under the ticker OP once the combination closes.

Under the terms Dimitrova described, the Titan transaction carries an implied pro forma equity value of up to $1.1 billion, a benchmark that will anchor how the market prices OpenPayd against rivals once shares begin trading. The company is also weighing a private placement ahead of the merger to line up additional funding for its growth plans, according to Dimitrova.

Crypto and payments firms are splitting into divergent camps on how to reach public markets. Stablecoin payments company RedotPay is pushing forward with U.S. IPO preparations after completing a financial audit, while Kraken parent Payward has pushed its own listing back to the second quarter of 2027 at the earliest, as CoinDesk has reported.

43 state licenses clear path to an April 2027 U.S. launch

OpenPayd took a concrete step toward its U.S. ambitions last month by folding MSB USA Inc., and its 43 state money transmitter licenses, into the OpenPayd group. The company is targeting an April 2027 launch of customer-facing infrastructure in the U.S., a timeline that sits roughly a year beyond the planned Nasdaq close.

OpenPayd supplies businesses with accounts, foreign exchange, and domestic and international payment rails, alongside tools for moving between fiat currencies and stablecoins. Its client roster includes crypto exchange Kraken, market maker B2C2 and trading platform OKX. The firm has also integrated with the Circle Payments Network for cross-border settlement and joined Fireblocks’ payments network, where other participants can tap its fiat infrastructure.

Dimitrova described OpenPayd as a “global infrastructure platform for modern money movement” and said “there is no public market competitor that has the same combination of fiat and stablecoin capabilities that OpenPayd can deliver today.”

Revenue rose to $73 million as losses tied to deal costs

OpenPayd reported $73 million in revenue for the year ended April 30, 2026, up from $57 million the year before, according to an investor presentation. The company posted $13 million in EBITDA alongside a $2.8 million net loss for the period.

A company spokesperson said by email that the net loss was entirely attributable to $5.8 million in one-time transaction costs tied to the Titan merger. Stripped of those costs, the underlying business would have been profitable on an operating basis.

Dimitrova said delays to U.S. digital-asset market-structure legislation were a setback but had not altered OpenPayd’s decision to expand into the country. The GENIUS Act has already established a federal framework for payment stablecoins, and the SEC has proposed rules tailored to some crypto assets, developments Dimitrova said create an opening to sell payments infrastructure to firms linking traditional finance with blockchain networks.

Few markets can match the energy and ambition of the U.S. We want to harness that momentum to take OpenPayd from European success to global scale.

Iana Dimitrova, CEO of OpenPayd

The BlockWest read. The real signal here is not the listing but the license stockpile. By absorbing MSB USA’s 43 state charters before going public, OpenPayd is treating U.S. market access as an acquirable asset rather than a regulatory queue, and it says it wants more such deals once its shares can be used as acquisition currency. Watch which licensed fintechs become targets once the Titan deal closes.

The next concrete marker is the SEC’s effectiveness ruling on the registration statement and the Titan shareholder vote, both of which Dimitrova expects to clear before the year-end Nasdaq listing target; OpenPayd has not yet disclosed a firm date for either event.

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