OpenPayd Global Holdings Limited filed a Form 425 on October 30, 2026, reproducing a Mergermarket interview with CEO Iana Dimitrova published October 28, 2026, discussing the company's proposed USD 1.145bn SPAC merger with Titan Acquisition Corp and its post-listing growth strategy.

Key Highlights

  • SPAC deal valued at USD 1.145bn: OpenPayd's proposed business combination with Titan Acquisition Corp was announced June 1, 2026, and is expected to close in the current quarter, according to the filing.
  • SEC review nearly complete: Dimitrova stated the SEC has nearly finished reviewing the registration statement; it has not yet been declared effective, and remaining comments must be addressed before the shareholder vote.
  • MSB USA acquisition completed: OpenPayd completed its acquisition of MSB USA in September for undisclosed terms, securing 43 state money-transmitter licenses to accelerate US market entry.
  • Revenue and volume metrics: The company generates more than USD 100m in annualized revenue and processes more than USD 320bn in annualized payment volume, serving more than 1,300 institutional customers, per the filing.
  • Stablecoin revenue share: Stablecoin payment processing, described as "effectively nonexistent a year ago," now accounts for 10%-15% of revenue, Dimitrova said.
  • No debt, profitable since July 2023: The company has been profitable since July 2023 and carries no debt, according to the filing.
  • Board structure: The proposed post-merger board will comprise seven directors, a majority of whom will be independent, Dimitrova said.

OpenPayd's Growth Plans and SPAC Transaction Progress

According to the Form 425 filing, OpenPayd Global Holdings Limited is pursuing acquisitions in the US, Asia, and the Middle East to obtain regulatory licenses, product capabilities, or connectivity to domestic payment networks. CEO Iana Dimitrova stated the company is weighing M&A against organically obtaining licenses and building operations, saying "anything that gives us an advantage and accelerates our time to market, particularly when it comes to infrastructure and connectivity to local payment rails, is something that we are open to consider." The MSB USA acquisition, completed in September for undisclosed terms, was conducted in-house without an investment bank.

The filing notes that Cantor Fitzgerald and Winston Taylor are advising Titan on the SPAC transaction and related financing, while Anne Martina Group and A&O Shearman are advising OpenPayd. Founder Dr. Ozan Özerk remains OpenPayd's majority shareholder. Dimitrova declined to comment on the post-merger ownership structure. The transaction is expected to result in OpenPayd listing on the Nasdaq Stock Exchange, providing what Dimitrova described as access to capital at a scale more difficult to achieve in private markets, along with enhanced corporate governance and financial reporting.

The filing outlines three pillars of OpenPayd's medium-term growth strategy: increasing revenue from existing customers through additional products, geographic expansion, and scaling stablecoin-based cross-border payments. Dimitrova stated that stablecoin-based transactions can potentially settle within seconds compared to correspondent banking transfers that can take days. She also said OpenPayd's longer-term strategy "is not dependent on any single payment rail," with the company aiming to bridge traditional financial infrastructure and blockchain-based networks. The filing cited Mastercard's USD 1.8bn acquisition of BVNK and Stripe's USD 1bn acquisition of Bridge in 2025 as examples referenced by Dimitrova of growing industry interest in stablecoin payments.

What Was Disclosed

OpenPayd filed a Form 425 reproducing a CEO interview covering the pending USD 1.145bn merger with Titan Acquisition Corp, the near-complete SEC review of its registration statement, a completed US acquisition, financial metrics, and a three-pillar growth strategy centered on cross-selling, geographic expansion, and stablecoin payments.