Openmarkets plans to raise $50 million for DeFi and overseas expansion

ChainCatcher News: According to market sources, Australia-based fintech infrastructure provider Openmarkets Group has announced plans to raise $50 million to support its entry into the decentralized finance (DeFi) sector and expand into overseas markets such as Singapore, Hong Kong, and the United States.

The company provides application programming interfaces (APIs) for financial institutions, enabling them to offer clients access to both Australian and international stock markets. The company's near-term plans for the raised funds include launching cryptocurrency trading services, tokenizing real-world assets, and building a digital treasury to manage its holdings of cryptocurrencies, stablecoins, and other digital assets.

Openmarkets Group CEO Dan Jowett revealed that the treasury will be managed by third-party institutions, which may also make strategic investments in other Web3 companies. Initially, the focus will be on tokenizing illiquid assets such as private credit and equity funds. The company's entry into this sector is described as a "medium- to long-term strategy" that will be implemented in phases.

Currently, the company is in discussions with a certain exchange and other major liquidity providers to ensure sufficient liquidity for its cryptocurrency trading services.