Foreign exchange payment startup OpenFX completes $94 million funding round, led by Pantera and others

DeepFlowTech · 2026-03-31T11:07:28+00:00

OpenFX has completed a $94 million funding round, with a valuation of approximately $500 million, and plans to leverage stablecoins to accelerate cross-border payments. The platform enables fast foreign exchange settlements, currently handling an annualized payment processing volume of $45 billion, and will expand into Southeast Asia and Latin America markets in the future.

DeepFlowTech

2026-03-31 11:07:28

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Deep Tide TechFlow message. On March 31, Reuters reported that FX market-making and remittance startup OpenFX completed a new funding round of $94 million on Tuesday, with a post-money valuation of approximately $500 million. The round was led jointly by venture capital firms including Accel, Lightspeed Faction, M13, Northzone, and Pantera. The company plans to use stablecoins to accelerate its cross-border payments business.

By connecting traditional banking systems with digital infrastructure, OpenFX uses stablecoins as a bridge to enable near real-time foreign-exchange conversion and settlement. It is reported that more than 98% of transactions on the platform can be settled within 60 minutes, while traditional FX markets typically require 2 to 5 business days.

OpenFX was founded in 2024 by Prabhakar Reddy, a former FalconX founder. The company currently operates in the United States, the United Kingdom, the UAE, and India, serving fintech companies, digital banks, remittance providers, and payroll settlement platforms. Its annualized payment processing volume has grown from $4 billion a year ago to more than $45 billion. The proceeds from this financing will be used to expand into Southeast Asia and Latin America, where stablecoin adoption continues to rise.

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