According to ChainCatcher news, London-based payment infrastructure company OpenPayd CEO Iana Dimitrova told CoinDesk that the company expects to complete its merger with Titan Acquisition Corp. before the end of this year and list on Nasdaq. The transaction still requires the U.S. Securities and Exchange Commission's registration statement to take effect and Titan shareholder approval and other conditions. The stock code will be OP after listing. Under the announced terms, the deal has a pro forma implied equity value for OpenPayd of up to $1.1 billion.
OpenPayd provides account, foreign exchange and domestic and overseas payment services for companies such as Kraken, B2C2 and OKX, and provides conversion infrastructure between legal currency and stable currency. It has been connected to the Circle payment network and Fireblocks payment network. The company, which last month added MSB USA Inc. and its 43 state money transmission licenses to the group, plans to launch services to U.S. customers by April 2027. For the year ended April 30, 2026, the company had revenue of $73 million, up from $57 million in the previous fiscal year, EBITDA of $13 million, and a net loss of $2.8 million, which a company spokesman said was entirely attributable to $5.8 million in one-time transaction costs related to the merger.
Dimitrova said the company is interested in acquiring companies that can bring licenses or technology to speed up entry into new markets. The listing will provide it with capital and publicly traded shares that can be used for transactions and cooperation. The company is also considering a private placement to raise growth funds before the merger.