Travel and Leisure Travel and Leisure
Thu, May 22, 2025
[ Today @ 06:26 AM ] - Fortune
Top CD rates today, May 22, 2025
[ Today @ 05:11 AM ] - CNN
Top business news | CNN Business

OpenFX raises $23 million led by Accel to build near-instant cross-border transactions


Published on 2025-05-22 08:06:39 - Fortune
  Print publication without navigation

  • Why the latest stablecoin startup to raise venture funding could bring a technological breakthrough.

OpenFX, a fintech startup, has secured $100 million in Series B funding led by Accel to expand its blockchain-based foreign exchange platform, which aims to revolutionize cross-border payments by leveraging stablecoins and other cryptocurrencies. The platform, which has already processed over $1 billion in transactions since its launch, offers faster and cheaper international transfers compared to traditional banking systems, and is now planning to integrate with major e-commerce platforms and expand its services to new markets in Asia and Latin America. The investment reflects growing confidence in the potential of blockchain technology to disrupt the $5.3 trillion daily foreign exchange market, with OpenFX's CEO emphasizing the company's commitment to enhancing financial inclusion and efficiency in global trade.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/22/openfx-accel-stablecoins-crypto-venture-foreign-exchange-blockchain/ ]