- Fintech startup OpenFX raised $94 million in a Series A round to scale its stablecoin-based cross-border payment network.
- The company plans to use the capital to expand its geographic footprint, targeting Southeast Asia and Latin America for growth.
- The funding highlights a trend of stablecoins moving from crypto-native tools into mainstream corporate payments infrastructure.
- Stablecoins processed over $33 trillion globally last year, with significant growth projected for the decade.
The fintech startup OpenFX has secured a significant $94 million in Series A funding to expand its stablecoin-powered financial network for foreign exchange and remittances. This substantial round, which included major firms like Accel and Pantera, was announced in late March 2026.
Founder Prabhakar Reddy launched OpenFX in 2024 to modernize the outdated infrastructure of the $200-trillion annual FX market. Consequently, the new capital will boost liquidity and fuel its entry into high-potential markets across Southeast Asia and Latin America.
OpenFX routes payments through a single network, advertising that 90% of transactions settle within an hour. The firm previously raised $23 million in a 2025 funding round also led by Accel.
noted at the time its vision for real-time settlement capabilities. Its latest funding reflects a broader industry shift toward blockchain-based corporate payments.
Ripple CEO Brad Garlinghouse recently called stablecoins crypto’s “ChatGPT moment” for business adoption. This optimism is supported by data showing stablecoins processed over $33 trillion in volume last year.
Industry analysts project massive growth, with flows potentially reaching $56.6 trillion by 2030. However, the regulatory landscape remains fragmented, posing compliance hurdles that could slow adoption despite the technological advantages.
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