OpenFX has raised $94 million to expand its cross-border payments platform, leveraging stablecoin technology to transform global foreign-exchange transactions.
The funding round, backed by Accel, Lightspeed Faction, M13, Northzone, and Pantera, values the company at approximately $500 million, reflecting rising investor confidence.
The startup specializes in FX market-making and remittances, aiming to reduce transfer costs and delays through faster, blockchain-powered settlement infrastructure.
According to the company, over 98% of transactions settle within 60 minutes, a sharp improvement over traditional systems requiring multiple business days.
OpenFX integrates conventional banking rails with digital assets, using stablecoins as a bridge for near-instant currency conversion across borders.
The newly raised capital will support expansion into Southeast Asia and Latin America, regions experiencing rapid growth in digital payment adoption.
OpenFX currently operates in the United States, United Kingdom, UAE, and India, serving a broad network of fintech firms, neobanks, and payroll platforms.
The company processes more than $45 billion in annualized volume, up significantly from $4 billion last year, driven by accelerating demand for faster global payments.
