OpenFX raises $94 million in funding, valued at approximately $500 million

OpenFX, a stablecoin cross-border payment infrastructure company, has completed a $94 million financing round led by Accel, Lightspeed Faction, M13, Northzone, and Pantera, with a post investment valuation of approximately $500 million. OpenFX connects the banking system and blockchain infrastructure through stablecoins, providing faster and lower cost settlement services for large cross-border funds. Over 98% of transactions on the platform can be settled within 60 minutes, and the annualized payment processing scale has increased from approximately $4 billion to approximately $45 billion. The company plans to use the funds to expand into Southeast Asia and Latin America markets.