Cross-border payments infra OpenFX bags $94 million funding led by Accel, with participation from Lightspeed Faction, M13, Northzone, and Pantera, highlighting strong investor confidence in next-generation fintech solutions.

Key Highlights

• OpenFX raises $94 million funding to expand stablecoin-powered cross-border payments infrastructure globally and efficiently.
• Startup aims to enable faster, cheaper transactions, disrupting traditional foreign exchange systems using blockchain technology.

Founded in 2024 by Prabhakar Reddy, OpenFX is building a stablecoin-powered cross-border payments network designed to make international money transfers faster, cheaper, and more efficient. The company leverages blockchain technology to enable near-instant foreign exchange settlements, with over 98% of transactions reportedly completed in under an hour—significantly faster than traditional systems that can take several days.

The funding round values the company at around $500 million and comes amid growing global interest in using stablecoins to modernize cross-border payments and reduce inefficiencies in legacy banking infrastructure.

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OpenFX plans to use the fresh capital to expand into high-growth regions such as Southeast Asia and Latin America, where adoption of digital payment technologies is accelerating. The company currently operates across key markets including the U.S., U.K., UAE, and India, and processes over $45 billion in annualized payment volume, reflecting rapid growth in demand from fintechs, neobanks, and enterprise clients.

By bridging traditional banking systems with digital financial infrastructure, OpenFX aims to create a real-time, globally accessible payments network, positioning itself as a key player in the evolution of cross-border financial services.