Openmarkets plans to raise $50 million for Decentralized Finance and overseas expansion.

PANews reported on October 27 that Openmarkets Group, a financial technology infrastructure provider based in Australia, announced plans to raise $50 million to support its expansion into Decentralized Finance (DeFi) and to extend its reach to overseas markets such as Singapore, Hong Kong, and the United States. The company provides application programming interfaces (APIs) to Financial Institutions, enabling them to offer clients access to Australian and international stock markets. The company's recent plans for the raised funds include: launching cryptocurrency trading services, tokenizing real-world assets, and building a digital vault to manage its holdings of cryptocurrencies, stablecoins, and other digital assets. Dan Jowett, CEO of Openmarkets Group, revealed that the vault will be managed by third-party institutions, which may also make strategic investments in other Web3 companies; initially, there will be a priority on tokenizing illiquid assets such as private credit and equity funds; the company's entry into this field is a “medium to long-term strategy” that will be implemented in phases. Currently, the company is negotiating with large liquidity providers such as HashKey, OKX, and Bitstamp to ensure that its cryptocurrency trading services have sufficient liquidity.