According to Reuters, OpenFX, a fintech startup focused on foreign exchange market making and cross-border remittances, has completed a $94 million funding round. The round was led by Accel, Lightspeed Faction, Pantera, and other institutions. The company is valued at approximately $500 million. OpenFX uses stablecoins as a bridge to achieve near real-time cross-border foreign exchange settlements. The company states that 98% of transactions can be settled within 60 minutes, significantly faster than the traditional foreign exchange market’s 2–5 business days. Currently, OpenFX’s annualized payment processing volume has exceeded $45 billion, and it plans to further expand into Southeast Asia and Latin America.