OpenPayd to List on Nasdaq via SPAC Merger with Titan Acquisition Corp
OpenPayd, a UK-based payments infrastructure provider, entered into a definitive business combination agreement with Titan Acquisition Corp, a special purpose acquisition company listed on Nasdaq as TACHU. Upon completion, OpenPayd will trade on Nasdaq under the ticker symbol OP. The deal is expected to generate up to USD 276 million in gross proceeds from Titan's trust account, assuming no redemptions.
Closing is targeted for Q4 2026, subject to shareholder approval. As of Mar 01, 2026, OpenPayd reported more than USD 85 million in annualised recurring revenue and more than USD 240 billion in annualised transaction volume across over 1,100 customers in 180 countries. Proceeds are earmarked for technology investment, regulatory expansion, and scaling US operations.
A&O Shearman is advising OpenPayd, while Winston & Strawn is counsel to Titan.
- Validates public market interest in BaaS infrastructure companies, potentially paving the way for other embedded finance providers to pursue IPOs or SPAC listings.
- A Nasdaq listing gives OpenPayd greater capital access to expand its API-driven payments, accounts, and FX services globally, intensifying competition in the BaaS market.
- OfficialThe Paypers — Jun 2026