June 1 (Reuters) - OpenPayd said on Monday it will go public in the United States through a merger with special purpose acquisition company Titan Acquisition TACH.O, in a deal valuing the financial infrastructure firm at $1.15 billion.

The deal is expected to close in the fourth quarter of 2026, it added.

Here are some details of the deal:

• OpenPayd, founded in 2018, serves more than 1,100 customers across 180 countries, including crypto and trading platforms such as eToro ETOR.O and Kraken.

• The company said it could receive as much as $276 million in gross proceeds from Titan's trust account, assuming no shareholder redemptions.

• It plans to use the capital to expand its financial infrastructure and strengthen its balance sheet.

• A SPAC is a shell company that raises money through an IPO to merge with a private business, allowing it to go public without a traditional IPO.

• OpenPayd's platform helps businesses move and manage money across traditional banking systems and digital assets, including stablecoins. It offers services such as global accounts, real-time payments and trading, helping customers operate across borders.

• Upon completion of the transaction, the combined company will be listed on the Nasdaq under the ticker symbol "OP."

• Anne Martina served as the lead M&A advisor to OpenPayd, while Cantor Fitzgerald acted as capital markets advisor to Titan.