OpenFX, an instant cross-border payment infrastructure provider, has raised $94M in Series A funding led by Accel, Atomico, and Lightspeed. The platform delivers 24/7 FX liquidity, enabling institutional clients to settle transactions in under 60 minutes at 0.01-0.3% costs using stablecoins and proprietary routing. The capital will fuel expansion into Southeast Asia and Latin America while scaling from 15 to 150+ currencies.
Stablecoin Tailwinds Drive FX Raises
The round arrives amid surging interest in blockchain-enabled payments: Airwallex raised $330M Series G at an $8B valuation in late 2025 to expand EMEA operations. OpenFX's stablecoin integration addresses gaps in traditional FX, where large transfers over $1M disrupt order books. With $45B annualized volume already processed, OpenFX claims 98% of transactions settle in under 60 minutes.
Trapped Capital in Slow Settlements
Traditional cross-border FX takes 2-7 days via correspondent banking, locking billions in transit and inflating costs. Institutional clients like fintechs and neobanks face liquidity shortages for exotic pairs like MXN or BRL. OpenFX eliminates pre-funding requirements, onboarding in under 72 hours as an NMLS-licensed provider (ID 2680829).
Stablecoins Unlock 24/7 Liquidity
OpenFX's FX Trading API, treasury dashboard, and global settlement network support 40+ pairs across 25+ rails, blending fiat and stablecoins like USDC. This bypasses legacy delays, achieving 99% faster settlements and 90% cost reductions versus incumbents. Unlike broader platforms, OpenFX focuses on programmatic, real-time execution for high-volume treasury.
As Prabhakar Reddy, Founder & CEO, explained the core issue:
"You can easily do transfers for anywhere between $1,000 and $100,000 - but the minute you tried to do anything between $1 million and $10 million clip sizes, you eat through the order book."
Elite VCs Bet on Crypto-FX Infra
Accel, with hits like Stripe, led alongside Atomico (Stripe, Klarna) and Lightspeed Faction's crypto fund—repeat seed investors signaling conviction. Pantera Capital and Northzone add crypto and fintech depth. This tier-1 syndicate, post a $23M prior raise, values OpenFX at ~$500M, validating its $20B+ total processed volume.
Niklas Zennström of Atomico captured the vision:
"Just as AWS removed the complexity of infrastructure… OpenFX is doing the same for money movement."
Cross-Border Payments Set to Triple
The market stands at $238B in 2026, projected to reach $336B by 2031 at 7.16% CAGR, driven by real-time adoption and stablecoins. Competitors like Nium ($500M+ raised) offer payouts but lag in 24/7 FX speed. OpenFX's edge lies in exotic corridors, powering AI agents as future top users.
FalconX Co-Founder's Repeat Play
Prabhakar Reddy, Harvard MBA and ex-Accel investor, co-founded FalconX (now $8B-valued crypto brokerage) and sold nFusion and Dramatize to BookMyShow. His team includes ex-Stripe regulatory leads and Meta execs, blending crypto scale with payments compliance for global rollout.
Southeast Asia and LatAm Push
Post-$45B volume milestone—from $4B prior—OpenFX eyes regulatory scaling via recent compliance hires. Launches in MXN ($63B US-Mexico corridor) and PHP precede deeper SE Asia and LatAm penetration, leveraging Brazil's new FX framework.