According to TechFlow, the on-chain institutional lending and yield product platform OpenTrade has completed a $3.2 million seed round of financing, with participation from a16z Crypto Startup Accelerator (CSX), CMCC Global, Draper Dragon, Ryze Labs and Plassa Capital. The company intends to use the new financing to develop all of its key functional teams.

It is reported that OpenTrade is built on Circle’s payment and DeFi infrastructure. Through OpenTrade, regulated asset management companies can create on-chain lending products that bear returns and deposit USDC or EURC in on-chain vaults with certain investment standards and target returns.