Stablecoin cross-border payment infrastructure company OpenFX completes $94 million funding round

PANews reported on March 31 that OpenFX, a startup focused on foreign exchange market making and cross-border remittances, has completed a $94 million funding round. The round was led by Accel, Lightspeed Faction, M13, Northzone, and Pantera, valuing the company at approximately $500 million post-money. OpenFX bridges the banking system with blockchain infrastructure using stablecoins, providing faster and lower-cost settlement services for large cross-border funds. The company claims that over 98% of transactions on its platform are settled within 60 minutes, and its annualized payment processing volume has increased from approximately $4 billion to approximately $45 billion. OpenFX plans to use the funds to expand into Southeast Asia and Latin America.