OpenPayd Targets Nasdaq Listing in $1.15B SPAC Deal

Stablecoin payments infrastructure provider OpenPayd has targeted the completion of its merger with special purpose acquisition company Titan Acquisition Corp. by the end of 2026, positioning the firm for a Nasdaq listing under the ticker OP and a planned U.S. launch by April 2027.

According to CryptoNews, the proposed business combination implies a pro-forma equity value of up to $1.145 billion for the combined entity. Under the initial terms signed on June 1, OpenPayd shareholders will receive shares based on an $800 million valuation, while Titan’s trust could deliver up to $276 million in gross proceeds if public shareholders do not redeem their holdings.

U.S. Launch and Acquisition Strategy

OpenPayd Chief Executive Officer Iana Dimitrova said the company expects the transaction to close before year-end, barring major disruptions. The proceeds are intended to fund operational growth, technology expansion, and selective corporate acquisitions to accelerate market entry.

In September, OpenPayd expanded its regulatory footprint in the United States by integrating MSB USA Inc., securing 43 state money transmitter licenses. The company plans to leverage those licenses to roll out client services across much of the U.S. market by April 2027.

Financial Performance and Stablecoin Growth

Filings submitted to the U.S. Securities and Exchange Commission reveal that OpenPayd generated $72.7 million in revenue and $12.5 million in EBITDA for the fiscal year ended April 30, 2026. The firm posted a net loss of $2.8 million after absorbing $5.8 million in transaction expenses related to the SPAC transaction. By July 31, annual recurring revenue had crossed $96 million, with annualized transaction volumes exceeding $300 billion across more than 1,200 institutional clients, including Kraken, OKX, and B2C2.

Stablecoin orchestration has become a central growth engine for the firm. SEC presentation disclosures showed quarterly stablecoin orchestration revenue surged from $80,000 to $1.99 million over a 12-month period, contributing roughly one-third of the company's growth in the first quarter of fiscal 2027.

Key facts

• OpenPayd plans to close its merger with Titan Acquisition Corp. by the end of 2026 to list on Nasdaq under ticker OP.
• The transaction carries an implied pro-forma equity valuation of up to $1.145 billion.
• Fiscal 2026 revenue stood at $72.7 million with EBITDA of $12.5 million and annualized transaction volume exceeding $300 billion.
• The firm secured 43 U.S. state money transmitter licenses via MSB USA Inc. ahead of an April 2027 U.S. rollout.
• Closing remains contingent on Titan shareholder approval, SEC registration effectiveness, Nasdaq clearance, and minimum proceeds of $130 million.