OpenFX raises $94M to scale stablecoin cross-border payments
Forex startup OpenFX raises $94 million to expand stablecoin-powered cross-border payments
OpenFX, a forex-focused startup, has raised $94 million as it looks to expand cross-border payments powered by stablecoins.
The funding underscores continued investor interest in payments infrastructure that uses blockchain-based settlement rails while aiming to deliver familiar foreign-exchange and money-movement services to businesses operating across borders.
Stablecoins—cryptocurrencies designed to track the value of fiat currencies such as the U.S. dollar—have become a common tool in crypto-enabled payments because they can move quickly across networks and settle around the clock. In cross-border contexts, companies adopting stablecoins typically position them as an alternative settlement layer that can reduce reliance on slower, multi-step correspondent banking flows.
OpenFX’s raise comes as more fintechs and crypto-native firms pursue similar approaches, blending traditional currency exchange services with stablecoin settlement to improve speed and efficiency in international transfers.
