OpenPayd, the London-based payments and stablecoin infrastructure provider, said on 10 November 2026 that OpenPayd ARR reached $107 million in October, after second-quarter revenue for its 2027 financial year rose 44% to $25.4 million. Fintechbits’ archive shows OpenPayd reported ARR above $96 million as of 31 July 2026, so the $107 million October figure is about $11 million higher three months later, and both run rates sit well above the $73 million of revenue OpenPayd reported for the year to 30 April 2026. The July figure and the annual revenue both come from earlier Fintechbits coverage.

What OpenPayd reported

The OpenPayd results release covers the quarter from August to October 2026, the second quarter of a financial year that ends on 30 April. The figures are unaudited and converted from euros at $1.16 per euro. Revenue for the quarter was $25.4 million, up 44% on the same quarter a year earlier.

Fiat infrastructure, meaning accounts, FX and bank payments, produced 70% of first-half revenue growth. Stablecoin orchestration produced the other 30%. First-half stablecoin revenue rose from $0.5 million to $3.9 million, from a product launched in May 2025.

Clients onboarded during the 2027 financial year contributed 34% of first-half banking and payments revenue growth, and stablecoin orchestration made up 32% of revenue from that group. OpenPayd says client balances held exceeded $1 billion in October.

Iana Dimitrova, chief executive of OpenPayd, said: “Our clients don’t need to make a bet on which rail will win. They need interoperable infrastructure that allows them to move and manage money across both, and use what works best for each flow.”

How OpenPayd ARR is calculated

OpenPayd ARR is not contracted recurring revenue. The release defines it as revenue recognised in October 2026 multiplied by twelve. It includes transaction fees, subscription fees and minimums, FX margin, operational and setup fees, and interest earned on client balances. The company says the metric is sensitive to customer activity, volumes, pricing and interest rates, and is not a forecast.

The definition is unusually candid, and investors should read it twice. A single strong month sets the whole number. Interest on more than $1 billion of client balances counts toward it, so lower interest rates would shrink OpenPayd ARR even if no client left. The quarterly revenue of $25.4 million is the steadier figure.

Fintechbits analysis

Why OpenPayd ARR Matters More for the Listing Than the Stablecoin Story

The stablecoin numbers grab the headline, but fiat still carries OpenPayd. Stablecoin revenue of $3.9 million in a half year is real growth from a tiny base, and it is clearly helping to win new clients. Even so, 70% of growth came from the plain business of accounts, FX and payments for firms such as eToro, Kraken, OKX and B2C2.

The more useful reading is about the planned listing. OpenPayd agreed in June to go public by merging with Titan Acquisition Corp, and the release still describes the deal as proposed. When Fintechbits covered the terms, the filing set an $800 million equity value and a $130 million minimum proceeds condition, with closing expected in the fourth quarter of 2026. A rising OpenPayd ARR is the obvious number to show Titan shareholders deciding whether to redeem.

The fair reading is that the growth is real but the metric flatters it. An annualised month that includes interest income is the most generous yardstick available, and the release itself says so. Public investors will price OpenPayd on audited revenue and margins, and on how much of the income depends on rates.

Frequently asked questions

What is OpenPayd ARR?

OpenPayd ARR is the company’s own run-rate metric: revenue recognised in a single month, multiplied by twelve. For October 2026 it came to $107 million, and it includes FX margin and interest on client balances as well as fees.

How much of OpenPayd’s growth comes from stablecoins?

Stablecoin orchestration produced 30% of first-half revenue growth, excluding interest income, with fiat infrastructure producing 70%. Stablecoin revenue for the half rose from $0.5 million to $3.9 million.

Is OpenPayd a public company?

Not as of the 10 November 2026 release, which describes the Titan Acquisition Corp combination as proposed. The deal is expected to list OpenPayd on Nasdaq once approvals and conditions are met.

What to Watch Next

The number to watch is audited revenue in the Titan merger documents, set against the run rate. If the business combination closes and OpenPayd reports a full quarter as a listed company, investors will see how much of OpenPayd ARR survives a lower-rate environment and how fast stablecoin revenue grows once it is no longer measured from a $0.5 million base.