Fintech360: Save Costs & Increase Revenue with Fast Implementation

FinTech startup OpenFX secures $23m to overhaul global FX settlement

OpenFX, a FinTech company focused on transforming global financial infrastructure, has emerged from stealth with $23m in initial funding. The company, founded by serial entrepreneur Prabhakar Reddy, aims to radically improve cross-border payments through real-time FX settlement capabilities. The $23m round was led by Accel and supported by NFX, Lightspeed Faction, Castle Island Ventures, Flybridge, Hash3, and several strategic FinTech investors.…

Fintech360: Save Costs & Increase Revenue with Fast Implementation

It comes as no surprise that the financial services industry is a rapidly growing segment. What is surprising is the unbelievable magnitude of this growth. FX/CFD brokers saw an average monthly volume increase of approximately $2.6 trillion between the first and second quarter of 2024 alone.Any industry that experiences that level of growth is bound to attract fierce competition. Staying ahead of the competition is already a feat, but it becomes…

OpenFX raises $23 million for stablecoin cross border payments - Ledger Insights - blockchain for enterprise

Last week OpenFX emerged from stealth with a $23m funding round led by Accel. The startup’s goal is for its infrastructure to enable 24/7 instant cross border payments and claims to have achieved $10 billion in annualized cross-border payment volume already. The annualized caveat means it hasn’t yet reached that milestone. What was most notable […] The post OpenFX raises $23 million for stablecoin cross border payments appeared first on Ledger I…