Overview
- Ontop has embedded a roughly 3% APR rewards product inside its Global Account that routes idle USD payroll balances into yield through OpenTrade’s infrastructure and currently has more than $3 million in user-provided funds allocated.
- An initial pilot with about 1,300 users reached $1 million in user funds in under two weeks and has since scaled to more than $3 million under management as the feature moved from pilot to full launch.
- OpenTrade supplies the legal structuring, portfolio management, automated reporting and APIs that let Ontop ship the product quickly with no material operational lift and real-time balance visibility.
- For workers the feature turns uninvested pay between pay cycles into a native way to earn yield that helps offset inflation, currency devaluation and repatriation risk without leaving the Ontop account.
- The deal gives Ontop a new revenue line by letting it capture margins on allocated balances, and OpenTrade — backed by Circle and a16z Crypto with Five Sigma Finance providing asset-management oversight — plans to expand the offering with fixed-term products soon.