OpenPayd pursues $1.1 billion Nasdaq listing while crypto rivals shelve IPO plans

OpenPayd has announced a merger agreement with Titan Acquisition Corp. that would list the company publicly on Nasdaq at a valuation of roughly $1.1 billion. 

If OpenPayd follows through as planned, it would be a rare sighting of a crypto-linked firm advancing its listing plans after a string of digital asset and fintech companies recently paused or abandoned their own ambitions due to weak markets and falling token prices.

Which crypto firm is listing on the Nasdaq?

OpenPayd and Titan, a special purpose acquisition company (SPAC) trading on Nasdaq under the ticker TACHU, have signed a definitive business combination agreement that would list OpenPayd under the symbol “OP.” 

If no Titan shareholders redeem their holdings, OpenPayd stands to receive up to $276 million in gross proceeds from Titan’s trust account to expand its business and strengthen its finances.

The company reported annualized recurring revenue above $85 million as of March 2026 and processes more than $240 billion in annualized transaction volume. OpenPayd’s client list includes eToro, Kraken, and OKX, and it operates across more than 180 countries. The deal values OpenPayd at $1.1 billion.

The boards of both companies approved the deal unanimously. The final closing is expected in the fourth quarter of 2026, dependent on shareholder approval and other standard conditions.

OpenPayd’s CEO, Iana Dimitrova, said that the transaction is a major milestone that shows the strength of the company’s platform. Founder Ozan Ozerk added that he believes the next decade of finance will be driven by autonomous systems, and that going public will give his firm the money and mission to lead that market 

OpenPayd’s listing comes as crypto listing plans stall across the industry

OpenPayd’s timing stands out as several major crypto firms have delayed or shelved public offerings this year due to a decline in prices and a lack of investor interest.

Cryptopolitan reported that Consensys, the company behind the MetaMask Ethereum wallet, pushed its planned U.S. IPO to at least fall of 2026 after crypto markets dropped sharply earlier in the year. JPMorgan and Goldman Sachs were working on the offering.

Grayscale, one of the largest crypto asset managers and the firm behind the Bitcoin Trust ETF (GBTC), also paused its IPO preparations and is unlikely to restart before the fourth quarter. 

Kraken suspended its own multibillion-dollar IPO earlier in 2026, just months after raising $1.3 billion across two funding rounds that valued the exchange at over $20 billion. Cryptopolitan also previously reported that the hardware wallet maker, Ledger, paused a planned $4 billion listing.

BitGo is the only crypto-native firm to complete a U.S. IPO so far this year. The digital asset custodian raised about $213 million in January, but its shares now trade roughly 36% below the offering price.

Titan CEO Frank Mastrangelo called OpenPayd what he believes to be “the first publicly traded, pure-play global payments infrastructure platform at the intersection of traditional finance and digital assets,” per the joint announcement.

If you're reading this, you’re already ahead. Stay there with our newsletter.