- OpenFX has raised $94 million in Series A funding to expand its stablecoin-based cross-border payments network.
- The company plans to use the new capital to deepen liquidity and grow in Southeast Asia and Latin America.
OpenFX has secured $94 million in fresh funding, adding more weight to a corner of fintech that has been gaining momentum quietly but steadily: stablecoin-powered cross-border payments.
The Series A round drew backing from Accel, Atomico, Lightspeed Faction, M13, Northzone and Pantera, and comes as more infrastructure firms try to use blockchain-based dollars to move money across borders faster than the traditional foreign-exchange system typically allows. OpenFX said it will use the capital to expand liquidity, enter new markets and build out operations in Southeast Asia and Latin America.
Stablecoins move deeper into payment rails
OpenFX is part of a growing class of companies treating stablecoins less as trading instruments and more as settlement rails. Its pitch is aimed mostly at businesses moving large sums internationally, where speed, liquidity and FX costs still matter a lot more than glossy consumer interfaces. The company focuses on foreign-exchange market making and remittances, while OpenFX said its network has already exceeded $45 billion in annualized payment volume.
That broader trend is becoming harder to ignore. Stablecoins have long been central to crypto market plumbing, but firms like OpenFX are trying to push them into more conventional financial workflows, particularly where bank-to-bank transfers remain slow, expensive, or fragmented. Reuters said more than 98% of OpenFX payments settle in under an hour.
Expansion targets faster-growing corridors
The regional focus is not accidental. Southeast Asia and Latin America have both become important testing grounds for stablecoin payment infrastructure, partly because of active remittance flows and partly because businesses in those markets are often more willing to try alternatives to legacy rails. OpenFX already operates in the U.S., UK, UAE and India.
For now, the rise looks less like a consumer crypto story and more like a market-structure one. The bet behind OpenFX is fairly plain: if stablecoins are going to reshape finance, one of the first places that happens at scale may be the old and lucrative business of moving money across borders.
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