Australian trading platform raises $300 million in funding, betting on crypto and RWA tokenization

SignatureVerifier · 2026-01-23T08:00:09+00:00

Openmarkets Group in Australia announces merger with NASDAQ-listed shell company Lake Superior Acquisition Corp., valued at approximately $300 million, expected to be completed in 2026. This move demonstrates Openmarkets' development strategy in the DeFi ecosystem, expanding its business through tokenization of traditional financial assets and bridging centralized and decentralized finance.

SignatureVerifier

2026-01-23 08:00:09

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【Crypto World】Australian trading and wealth management technology provider Openmarkets Group recently announced a significant move — it will merge with Nasdaq-listed shell company Lake Superior Acquisition Corp. This deal values Openmarkets at approximately $300 million, with a closing timeline pointing to 2026. After the merger is completed, Openmarkets is expected to relist on Nasdaq.

From a strategic perspective, this move reflects Openmarkets’ ambitions in the DeFi ecosystem. The company plans to expand its business through a cryptocurrency trading platform and the tokenization of real-world assets (RWA). What does this mean? Simply put, it’s about bringing traditional financial assets onto the blockchain, bridging centralized trading and decentralized finance. In an industry where many are exploring the integration of DeFi and RWA, Openmarkets’ move is seen as catching the right wave.

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AllTalkLongTrader

· 8h ago

The Australian team is also starting to play with RWA, a $300 million valuation isn't too high, but going public only in 2026 is a bit far away. RWA is indeed attractive; on-chain traditional finance is the future direction. Can merging SPACs become popular? Feels like this tactic is a bit old... However, the competition in the DeFi + RWA track is too fierce. Why would Openmarkets stand out? Wait, are they from Australia? Haven't heard of this company before. I'm optimistic about this direction, but the valuation is questionable... Who dares to take the plunge? Investing $300 million and waiting two years to go public is quite risky. RWA tokenization sounds good, but only a few projects have truly landed. Better to just invest in Bitcoin; these fusion projects are full of fluff.

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quietly_staking

· 01-23 08:28

The Australian team’s move this time is quite interesting; a $300 million valuation is not low... but they won't be listed on NASDAQ until 2026. How many things will happen in the meantime? RWA tokenization is indeed a hot topic, but how many companies can truly implement it? It seems to me that most are still just storytelling.

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SwapWhisperer

· 01-23 08:27

Australia's recent move is quite interesting, with a $300 million valuation directly listing on NASDAQ... RWA tokenization is indeed the trend, and it remains to be seen whether they can truly bring traditional assets onto the blockchain.

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MEVHunterWang