OpenFX announced on March 31, 2026, that it raised $94 million in Series A funding led by investors including Accel, Atomico, and Pantera. Founded in 2024, the company utilizes stablecoins as intermediary settlement rails to connect traditional banking systems with digital-native infrastructure for near-instant Foreign Exchange (FX) conversion.
The platform provides institutional-grade liquidity across more than 40 trading pairs and has grown its annualized payment volume from $4 billion to over $45 billion. The new capital supports expansion into Southeast Asian markets and the deepening of Latin American corridors where cross-border friction remains high.
“Institutions should not have to wait multiple business days to move capital across borders,” said Prabhakar Reddy, Founder and CEO of OpenFX.
🧭 FAQs
• What is the primary function of the OpenFX platform? The platform uses stablecoins to enable near-instant FX conversion and cross-border settlement for institutions.
• Which geographic regions are targeted for the new expansion? OpenFX is expanding into Southeast Asian markets and deepening its existing Latin American payment corridors.
• How much annualized payment volume does OpenFX currently process? The company has scaled its operations to exceed $45 billion in annualized payment volume.
• Who led the recent Series A investment round? The funding round included major institutional participation from firms like Accel, Atomico, Northzone, and Pantera.