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Fx Payments Startup Openfx Raises $94 Million Amid Cross-Border Stablecoin Push
OpenFX, valued at $500 million, plans to grow its network serving neobanks and remittance providers with $45 billion in annualized payments.
- On March 31, 2026, fintech startup OpenFX raised $94 million in a Series A funding round, valuing the company at roughly $500 million.
- Founder Prabhakar Reddy launched the company to address structural inefficiencies where more than $4 trillion sits locked in traditional accounts, targeting delays for sums between $1 million and $10 million.
- Operating across more than 40 trading pairs, the platform settles over 98% of transactions in under 60 minutes and now handles more than $45 billion in annualized payment volume.
- With the new funding, the company plans to expand into Southeast Asia and Latin America, serving clients that include MoneyGram and Yellow Card.
- Investors frame the raise around institutional use cases rather than retail narratives, with Atomico founder Niklas Zennström comparing the impact to AWS for simplifying infrastructure at scale.
13 Articles
13 Articles
FX startup OpenFX raises $94 million to expand stablecoin-powered cross-border payments
The company acts as a bridge between traditional banking and digital assets, enabling faster and cheaper foreign-exchange conversions for businesses moving large sums of money.
OpenFX Raises $94M to Push Stablecoin Adoption in Global FX Payments
OpenFX raised $94 million in a new funding round led by Accel, Atomico, Lightspeed Faction, M13, Northzone and Pantera, valuing the company at approximately $500 million. The startup, founded in 2024 by Prabhakar Reddy, operates as a bridge between traditional banking systems and digital infrastructure, using stablecoins to facilitate faster and cheaper currency conversions in large-scale cross-border transfers. The idea emerged after Reddy obse…
OpenFX Secures $94M Series A to Revolutionize FX Settlement Using Stablecoins
Key Highlights OpenFX completes $94M Series A round to build stablecoin-driven FX platform Settlement times reduced to less than 60 minutes across international markets Annual payment volume surges from $4B to $45B year-over-year Platform operates around the clock with reduced transaction fees Solution addresses structural problems in $200T annual FX market OpenFX announced the completion of a $94 million Series A financing round to build out i…
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