OpenTrade, a stablecoin yield products firm, has raised $4 million in a seed extension round. AlbionVC led the funding, with additional participation from a16z Crypto and CMCC Global, according to a statement shared with The Block on Monday.

Built on Circle, OpenTrade lets asset managers create yield-bearing onchain lending products.

"This funding allows us to continue on our growth trajectory, building products for some of the biggest and most important leaders in the space," said OpenTrade CEO David Sutter in the statement.

In April, OpenTrade raised $3.2 million in seed funding from a16z's crypto startup accelerator (CSX), CMCC Global, Draper Dragon, Ryze Labs and Plassa Capital to amass $4.45 million in total funding at the time, The Block previously reported.

The daily market capitalization from real-world asset (RWA) products reached nearly $4 billion on Nov. 24, The Block's Data Dashboard shows.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.