OpenFX has secured $94 million in funding to broaden the adoption of stablecoins in global payments and cross-border money transfers. The company positions itself as a connector between conventional banking infrastructure and digital assets. Its core offering enables businesses that move large sums internationally to convert foreign currencies more quickly and at lower cost than traditional methods allow.
Founded in 2024, OpenFX has grown rapidly since its launch, now processing more than $45 billion in annualized payment volume. The company’s model targets the friction points that businesses commonly encounter when conducting high-value international transactions. By leveraging stablecoins, it aims to reduce both the time and expense associated with foreign-exchange conversions.
With the newly raised capital, OpenFX plans to extend its operations into Southeast Asia and Latin America. Both regions have seen increasing adoption of stablecoins, making them strategic targets for the company’s next phase of growth. Expanding into these markets would allow OpenFX to serve a broader base of businesses engaged in cross-border commerce.
The fundraise reflects wider investor interest in financial infrastructure that bridges traditional and digital payment systems. Stablecoins, which are typically pegged to fiat currencies, have gained traction as a tool for international transfers due to their relative price stability compared to other digital assets. Companies operating in this space argue they can offer meaningful improvements over legacy correspondent banking networks.
OpenFX’s expansion plans come as demand for faster and more affordable cross-border payment solutions continues to grow among businesses operating across multiple currencies and jurisdictions. The company’s focus on high-volume business transactions distinguishes it from consumer-oriented remittance services. Its trajectory since founding suggests the platform has found early traction in a competitive and evolving market.
Originally reported by CoinDesk.
