🚀 OpenFX Secures $94 Million Funding to Expand Global Reach
#OpenFX #Funding #Startup #Forex #CrossBorderPayments #Blockchain #Stablecoins #GlobalExpansion #SoutheastAsia #LatinAmerica #Fintech #Investment
OpenFX, a startup specializing in forex market-making and cross-border remittances, has successfully raised $94 million in funding, according to PANews. The funding round was led by Accel, Lightspeed Faction, M13, Northzone, and Pantera, bringing the company's post-money valuation to approximately $500 million.
OpenFX utilizes stablecoins as a bridge to connect banking systems with blockchain infrastructure, offering faster and more cost-effective settlement services for large cross-border transactions. The company reports that over 98% of transactions on its platform are settled within 60 minutes, with its annualized payment processing volume increasing from around $4 billion to approximately $45 billion.
With the new funding, OpenFX plans to expand its operations into the Southeast Asian and Latin American markets.#OpenFX #Funding #Startup #Forex #CrossBorderPayments #Blockchain #Stablecoins #GlobalExpansion #SoutheastAsia #LatinAmerica #Fintech #Investment