OpenFX Raises $94 Million Series A to Scale Stablecoin Payment Infrastructure

OpenFX has raised $94 million in a Series A funding round to modernize how money moves across borders. The investment was co-led by major venture firms including Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera Capital. This capital injection comes as the two-year-old company reaches a staggering $45 billion in annualized transaction volume. Founded by Prabhakar Reddy, the startup targets a global cross-border market plagued by opaque fees and multi-day delays. Traditional banking rails often rely on 1970s infrastructure that locks up trillions in capital. OpenFX seeks to eliminate these inefficiencies by using stablecoins as an underlying settlement layer for institutional clients, as detailed on their company blog.

The platform operates by converting local fiat into stablecoins for near-instant transit before delivering local currency to the recipient. This process allows 98% of transactions to settle in less than an hour, significantly outperforming legacy systems. Customers include remittance platforms, neobanks, and payroll processors that require high-velocity liquidity.

With the new funding, OpenFX plans to deepen its global liquidity pools and expand its footprint in Southeast Asia and Latin America. The company aims to integrate directly with real-time domestic systems like India's UPI and Brazil's Pix. A significant portion of the capital will also support the development of programmatic APIs for future economic actors.

Reddy anticipates a future where autonomous AI agents become the primary users of foreign exchange services. These agents require 24/7 infrastructure that settles at machine speed rather than traditional banking hours. By building an agentic liquidity layer, OpenFX positions itself as the essential plumbing for the next decade of automated commerce.

Since its launch, the team has grown to 105 employees across four continents. The company has successfully compressed fee structures in major corridors like the UAE and is now targeting a wider range of the world's 150 currencies. This Series A marks a major milestone in their mission to make money move as freely as digital data.