FX startup OpenFX raises $94 million to expand stablecoin-powered cross-border payments
OpenFX secured $94 million to expand its stablecoin-powered cross-border payment services for businesses.Summary
OpenFX, a fintech startup founded in 2024, has raised $94 million in a funding round led by Accel, Lightspeed Faction, M13, Northzone, and Pantera, valuing the company at approximately $500 million. The company facilitates faster and cheaper foreign-exchange conversions by bridging traditional banking with digital assets, specifically utilizing stablecoins. OpenFX currently processes over $45 billion in annualized payment volume and intends to expand its operations into Southeast Asia and Latin America, regions experiencing rapid growth in stablecoin adoption. Inspired by inefficiencies observed in large-sum money transfers, OpenFX serves clients including neobanks, payroll platforms, and remittance providers, offering a solution for businesses moving significant capital across borders.
(Source：CoinDesk)