OpenFX Emerges From Stealth With $23 Million Funding Round

OpenFX, a firm specializing in FX infrastructure for cross-border payments, has come out of stealth mode after securing $23 million in funding. The round was led by venture capital firm Accel, with additional support from NFX, Lightspeed Faction, Castle Island Ventures, Flybridge, Hash3, and other fintech investors.

The newly raised capital will support rapid expansion into Latin America and Asia, the rollout of treasury management solutions, and the extension of regulatory compliance to cover more regions. The company has already reached an annualized transaction volume of $10 billion since its launch.

OpenFX Sets To Revolutionize Cross-Border Payments With Real-Time FX Technology

Started by entrepreneur Prabhakar Reddy, OpenFX wants to build a real-time FX network that settles international payments almost instantly. Its platform cuts down the time and cost of FX transfers by working outside regular banking hours.

OpenFX uses a multi-layer system that mixes traditional banks with new digital technology. Its customers include money transfer services, online banks, brokerages, payment companies, and global payroll firms. The team has experience in regular finance, blockchain tech, and international payments.

Reddy explained that while domestic real-time payments are common, cross-border money transfers still rely on outdated processes. OpenFX is building essential settlement infrastructure to support the AI-driven economy, enabling money to move as freely as data without restrictions like time zones or legacy banking systems.

He described their platform as the invisible network that will drive the next wave of global commerce, making international payments as fast and reliable as sending an email.

OpenFX Aims To Transform Global Finance With Continuous FX Solutions

Reddy, who co-founded and served as Chief Operating Officer of FalconX, a digital asset prime brokerage, is now leading OpenFX. He is building an open, transparent FX network that reduces payment friction by making FX transfers up to 99% faster and 90% cheaper, operating nonstop without being affected by weekends or holidays.

The funding will accelerate OpenFX’s goal to transform the global financial system, focusing on growth in key Latin American and Asian markets, launching treasury solutions, and expanding regulatory reach.

Its liquidity architecture leverages advanced financial technology to connect traditional banking with digital systems, enabling 90% of transactions to settle within an hour, far surpassing the industry norm of several days. The capital-efficient model also avoids the need for large balance sheets typical of traditional FX providers.

Furthermore, OpenFX is building the financial market infrastructure for the AI-driven economy with its real-time cross-border payments platform and settlement network.

By combining advanced payment rails with innovative last-mile liquidity sourcing, OpenFX enables near-instant FX settlements across borders—making money transfers up to 99% faster, as much as 90% cheaper, and available around the clock.