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The track of finance is being forcibly switched. This isn’t a gentle upgrade—it’s a complete track change. Pressure is coming from two extremes that appear unrelated: on one end are AI agents poised to take over economic functions, which must settle at machine speed, 24/7; on the other end is the turbulent real world, where geopolitical conflicts and inflation are making the old system feel out of place.

Recently, an organization called OpenFX completed a $94 million Series A round. Market observers believe its core logic is that, for an AI-driven future and a fragile real world, forging a “real-time, boundless” value transfer channel has become an underlying necessity rather than a nice-to-have.

The company’s founder and CEO, Prabhakar Reddy, is a serial entrepreneur and the co-founder of digital asset broker FalconX. Back in the 1990s in Dubai, he witnessed workers lining up long queues outside remittance counters, charged fees as high as 7%. Thirty years later, he found that cross-border payment efficiency at the base layer hadn’t improved at all in an era of technological explosion.

So he founded OpenFX in 2024. The core members of its team come from giants such as Goldman Sachs, JPMorgan Chase, Affirm, PayPal, Meta, and others. For compliance, it even hired former U.S. Secretary of Defense advisor Katherine Mooney Carroll as General Counsel. The goal of this “mainstream force” is clear: to make money flow freely—like data.

The financing track record is nothing short of impressive. In May 2025, it just completed a $23 million round, and less than half a year later received a further $94 million Series A investment. The lead investors include Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera, while existing shareholders Flybridge and Hash3 continue to participate. This roster blends the cautious infrastructure investment logic of traditional venture capital with the most established investment rationale in crypto.

Reddy’s positioning for OpenFX is extremely clear-eyed: “We’re not improving existing systems—we’re building an entirely new financial infrastructure.” At its foundation, it uses stablecoins like $USDT and $USDC as the “intermediate protocol” for cross-border transmission, rather than having end users directly access crypto assets.

The process is massively simplified: the sender pays in local fiat, the platform converts it into stablecoins internally and completes the cross-border transfer on-chain, and the recipient withdraws the target country’s fiat currency. For users, the stablecoins are completely “invisible”—they only feel that fees drop by 90%, and settlement time shrinks from several days to within 60 minutes.

Currently, its business covers North America, Europe, the Middle East, Latin America, and Asia, supporting multiple currencies including the U.S. dollar, UAE dirham, Australian dollar, Brazilian real, euro, and Mexican peso. In addition, it also offers modules for managing bank accounts and growing idle funds, and helps new brokers and payment service providers solve pain points such as 24/7 payments, integration, and compliance risk controls via API.

The growth trajectory is cold, hard numbers: from a $500,000 processing volume in its first month of operations, it has grown to processing $500,000 per minute today, with annualized cross-border processing volume exceeding $45 billion. Publicly listed customers include MoneyGram (MoneyGram), Yellow Card—an emerging markets stablecoin facility—and VelaFi, a cross-border financial infrastructure driven by stablecoins.

The core narrative behind this round of financing goes far beyond serving human remittances. The founders’ judgment is that within the next decade, AI Agents will become the largest user group in the global foreign exchange market. These autonomous economies will independently initiate trades, move funds, and execute payments—without human involvement. OpenFX’s goal is to become the underlying API interface for this AI economy era.

Its essence is to use blockchain’s “speed” to solve the “slowness” of cross-border payments, and simultaneously use the compliance logic of traditional finance to eliminate Web3’s “chaos.” It isn’t trying to directly challenge traditional banks; instead, through an “invisible” technological iteration, it quietly builds a financial operating system adapted to globalization and the AI era.

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