OpenFX Secures $94 Million to Enhance Cross-Border Payments
- OpenFX raised $94 million in Series A funding led by Accel, Atomico, and Pantera.
- Founded in 2024, OpenFX uses stablecoins for near-instant FX conversion and cross-border settlements.
- The platform offers liquidity across more than 40 trading pairs.
- Annualized payment volume has increased from $4 billion to over $45 billion.
- Expansion plans target Southeast Asian markets and Latin American corridors.
OpenFX’s recent funding round aims to enhance its global cross-border payment capabilities using stablecoins. The company seeks to reduce the time institutions spend moving capital internationally, offering a faster alternative to traditional banking systems.
With over $45 billion in annualized payment volume, OpenFX is set to expand its reach into new markets, addressing high cross-border friction areas with its stablecoin-based solutions. (Source)
