OpenFX, a startup that focuses on foreign-exchange market making and remittances, on Tuesday raised $94 million in a funding round led by several venture capital firms, as the company looks to use stablecoins to speed up cross-border payments.
The capital raise, which was led by investors including Accel, Lightspeed Faction, M13, Northzone, and Pantera, comes amid growing interest in using stablecoins to modernize cross-border payments and overcome high costs and transfer delays. The funding round values OpenFX at about $500 million,…
