Foreign exchange startup OpenFX has secured $94 million in a Series A funding round, underscoring growing investor confidence in stablecoin-driven financial infrastructure.

The funding round, announced on March 31, comes as the company accelerates its mission to modernize cross-border payments using stablecoins—offering faster, more efficient alternatives to traditional FX systems.

OpenFX raises $94 million in Series A funding to build stablecoin-powered infrastructure for faster, more efficient cross-border foreign exchange transactions.

Founded by Prabhakar Reddy, OpenFX aims to simplify global financial transactions by providing a unified infrastructure layer for foreign exchange. Reddy likened the company’s approach to that of Anthropic, whose Claude model streamlined access to advanced artificial intelligence.

According to Reddy, OpenFX is building foundational “pipes” for global finance—allowing businesses to plug into a ready-made system rather than developing their own complex FX infrastructure.

“We’re building the equivalent for global financial infrastructure. We are the pipes through which all global FX will flow,” he said.
“The remittance company in Brazil, the neobank in Singapore, the payroll processor in Dubai – none of them should have to rebuild what we’ve built. They should just use it.”

The company’s platform is designed to serve a wide range of financial players, including remittance providers, neobanks, and payroll processors, enabling seamless cross-border transactions powered by stablecoins.

This latest funding milestone comes less than a year after OpenFX emerged from stealth with $23 million in initial backing, highlighting rapid investor interest in infrastructure that bridges traditional finance and blockchain technology.

As global demand for faster and cheaper international payments continues to grow, OpenFX is positioning itself at the center of a shift toward programmable, blockchain-based FX systems—potentially reshaping how money moves across borders.