Listen to this articleOpenFX has secured $94 million in a Series A funding round led by Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera, bringing its total funding to about $117 million and enabling further expansion of its stablecoin powered cross border FX infrastructure.
OpenFX has raised $94 million in Series A funding. The round was led by Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera, with participation from existing investors Flybridge and Hash3. This follows the company’s $23 million seed round in May 2025 and brings total capital raised to approximately $117 million in under two years since founding in 2024. The funding underscores strong institutional confidence in OpenFX’s model for rebuilding cross border FX infrastructure. It arrives as the company has scaled from zero to over $45 billion in annualized payment volume, with 98 percent of transactions settling in under 60 minutes.
What is OpenFX?
Founded by Prabhakar Reddy, co-founder of the institutional crypto brokerage FalconX, OpenFX operates as an FX infrastructure provider that uses stablecoins as an intermediary settlement rail. This enables near instant fiat to fiat transfers across borders without counterparties touching crypto, delivering settlements in minutes rather than the traditional two to five business days, at costs of 0.01–0.3 percent.
The platform supports institutional grade liquidity across more than 40 trading pairs and serves fintechs, neobanks, remittance providers, and global payroll platforms, including MoneyGram, Yellow Card, and alfred. It has expanded into key corridors in Latin America (Mexican peso, Brazilian real, Colombian peso, Argentine peso) and maintains a presence in the UAE and Europe, with a global team of 105 people across four continents.
Proceeds from the Series A will accelerate expansion into Southeast Asian markets, where domestic real time systems like India’s UPI, Singapore’s PayNow, and Thailand’s PromptPay highlight persistent cross border friction. The capital will also deepen Latin American corridors, scale liquidity depth, and extend the platform’s modular, API first architecture. This includes treasury management tools, yield on idle capital, and programmable liquidity layers designed for high volume, 24/7 operations.
OpenFX addresses a structural inefficiency in the $200 trillion annual global FX market. Legacy correspondent banking, nostro accounts, and opaque fee structures lock up trillions in working capital and impose high costs and delays. By combining stablecoin rails with proprietary last mile liquidity sourcing, OpenFX eliminates these intermediaries, compresses settlement times by over 99 percent in many cases, and reduces overall costs by up to 90 percent. This positions the company at the intersection of traditional banking and digital native infrastructure, capturing demand from institutions seeking real time alternatives amid rising stablecoin adoption for remittances and treasury flows.
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Reddy’s vision frames the round as validation of a deliberate B2B strategy: powering thousands of financial institutions that each reach millions of end users, rather than building consumer facing products. Early traction demonstrates product market fit, volume grew from $500,000 in the first month of operations to $500,000 per minute within months, driven by reliable, scalable FX liquidity that operates outside banking hours and holidays. The company now views AI agents as an emerging category of FX users requiring machine speed, programmatic infrastructure, further elevating the urgency of real time rails amid geopolitical volatility and capital controls.
In a market where cross border payments remain one of the last major inefficiencies in global finance, OpenFX’s Series A signals accelerating institutional adoption of stablecoin powered infrastructure. The round equips the company to expand currency coverage toward 150+ pairs, solidify its position in high growth emerging markets, and build the programmable liquidity layer that will underpin the next generation of global money movement. This positions OpenFX not merely as a faster payments provider but as foundational infrastructure for a financial system that moves capital at the speed of data.
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