OpenPayd, a financial infrastructure platform bridging traditional finance and digital assets, has entered into a definitive business combination agreement with special purpose acquisition company Titan Acquisition Corp. (Nasdaq: TACHU) to list on the Nasdaq under the ticker symbol “OP”. The merger values OpenPayd at a pro-forma equity value of $1.145 billion, and once completed, it would bring up to $276 million in gross proceeds from Titan’s trust account, assuming no shareholder redemptions. The transaction is expected to close in the fourth quarter of 2026, subject to Titan shareholder approval and customary closing conditions.
OpenPayd processes over $240 billion in annualized transaction volume and generates more than $85 million in annualized recurring revenue as of March 2026. The company serves over 1,100 clients across 180 countries, including notable crypto firms such as eToro, Kraken, and OKX. CEO Iana Dimitrova emphasized that the deal demonstrates “the scale of our platform, our regulatory strength and our ability to deliver profitable growth.” Founder Ozan Ozerk added that the next financial decade will be defined by money that moves autonomously, and that going public positions OpenPayd as the operating system connecting traditional financial rails with programmable blockchain networks.
The SPAC merger was unanimously approved by the boards of both companies. Advisors include A&O Shearman as legal counsel, Deloitte as financial auditor, and Winston & Strawn as legal advisor to Titan, with Cantor Fitzgerald & Co. serving as capital markets advisor.
OpenPayd’s move stands out amid a wave of crypto-linked firms postponing or canceling their IPO plans. Consensys pushed its U.S. listing to at least fall 2026, Grayscale paused its IPO preparations indefinitely, Kraken suspended its multibillion-dollar offering earlier this year, and Ledger shelved a planned $4 billion listing. The only other crypto-native U.S. IPO in 2026, BitGo, raised $213 million in January but its shares now trade roughly 36% below the offering price. Titan CEO Frank Mastrangelo described OpenPayd as what he believes to be “the first publicly traded, pure-play global payments infrastructure platform at the intersection of traditional finance and digital assets.”
