Founded in 2024 by Prabhakar Reddy, OpenFX builds infrastructure for instant, 24/7 cross-border foreign exchange and payments using a stablecoin-native network. The platform connects traditional banking systems with blockchain-based currencies to enable near-instant FX conversion and claims settlement times under an hour versus typical 2–5 day cycles. OpenFX primarily serves B2B treasury and remittance use cases, offering API-based FX, treasury management, and instant payout capabilities for fintechs, neobanks, remittance providers, and payroll platforms. The company claims to reduce costs by up to 90% compared to traditional banking systems and to operate round-the-clock. Reported annualized payment volume exceeds $45 billion, up from $4 billion a year earlier, reflecting rapid growth. OpenFX says it operates across the U.S., the U.K., the UAE, and India and in December 2025 appointed Sourav Karmakar to lead its India business.

Total raised

$117M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2026