Payment infrastructure provider OpenPayd plans to go public on the Nasdaq through a merger with special-purpose acquisition company Titan Acquisition Corp., a deal that values the combined entity at roughly $1.145 billion on a pro-forma equity basis. The company, which processes over $240 billion in annualized transaction volume, will trade under the ticker OP once the deal closes.
A bet on programmable money
Founder Ozan Özerk framed the move as a bet on what he called 'money that moves on its own' — autonomous payment systems where stablecoins and fiat coexist. OpenPayd already handles payments for more than 1,100 businesses across 180 countries, with named clients including Kraken, eToro, OKX, and B2C2. The firm reported over $85 million in annualized recurring revenue as of March 2026.
Where the cash goes
Up to $276 million in gross proceeds from Titan's trust account will fund expansion into stablecoin and fiat payment orchestration — the glue that lets businesses move value between traditional rails and crypto rails. Titan raised that sum in its own IPO in April 2025, when it first listed on the Nasdaq. OpenPayd holds regulatory licenses in the United States, the United Kingdom, the European Economic Area, Canada, and South Africa.
Stablecoin volume keeps climbing
The timing tracks a market that's growing fast. Stablecoin transaction volumes hit about $33 trillion in 2025, with $4.5 trillion recorded in the first quarter of 2026 alone. The total market capitalization of stablecoins now sits near $320 billion. Real-world payments — as opposed to trading or DeFi speculation — using stablecoins doubled in 2025 to roughly $400 billion, and about 60% of that was business-to-business transactions. OpenPayd intends to capture more of that flow.
What has to happen next
Closing is expected in the fourth quarter of 2026, subject to Titan shareholder approval and a handful of regulatory conditions. In the coming months, OpenPayd and Titan plan to file an S-4 registration statement with the SEC, which will include audited financials and detailed risk disclosures. That document will give investors a fuller picture of the company's liabilities, revenue concentration, and the competitive landscape in payment orchestration.
