According to Tech in Asia, PANews reported on October 27 that Openmarkets Group, an Australia-based fintech infrastructure provider, announced plans to raise US$50 million to support its entry into the decentralized finance (DeFi) sector and expand into overseas markets such as Singapore, Hong Kong, and the United States. The company provides application programming interfaces (APIs) to financial institutions, enabling them to provide clients with access to Australian and international stock markets.

The company's immediate plans for the raised funds include launching a cryptocurrency trading service, tokenizing real-world assets, and building a digital treasury to manage its holdings of cryptocurrencies, stablecoins, and other digital assets. Dan Jowett, CEO of Openmarkets Group, revealed that the treasury will be managed by third-party institutions, which may also make strategic investments in other Web3 companies. Initially, the tokenization of illiquid assets such as private credit and equity funds will be prioritized. The company's entry into this sector is a "medium- to long-term strategy" that will be implemented in phases. The company is currently in talks with major liquidity providers such as HashKey, OKX, and Bitstamp to ensure sufficient liquidity for its cryptocurrency trading services.