OpenFX, a startup focused on foreign-exchange market making and remittances, has raised $94 million at a valuation of approximately $500 million. The round was led by Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera. Investors believe stablecoins can significantly improve the speed and cost of cross-border payments. OpenFX provides infrastructure for large-value FX transfers, using stablecoins to connect traditional banking systems with near-instant settlement. The company now processes over $45 billion in annualized payment volume, up from $4 billion a year ago. This funding round demonstrates growing confidence that blockchain-based payment infrastructure can meet enterprise and fintech demand, especially in markets where traditional cross-border transfers remain slow, costly, and inefficient.
FX Payments Startup OpenFX Raises $94 Million Amid Cross-Border Stablecoin Push
