OpenFX provides an infrastructure for instant, low-cost cross-border payments available 24/7. The platform utilizes a direct liquidity network to settle global transactions in minutes, bypassing traditional intermediaries. This results in significantly faster settlement times and reduced operational costs for businesses moving money internationally.
Funding
$23M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional cross-border payment systems are slow, expensive, and opaque, relying on outdated infrastructure that results in multi-day settlement delays and high fees. This inefficiency traps working capital, limits access to real-time pricing, and restricts transaction availability to traditional banking hours.
Solution
OpenFX provides a modern FX infrastructure that enables real-time cross-border payments and direct settlement, available 24/7. The platform offers industry-leading spreads and transparent pricing, allowing businesses to move money across borders with greater speed, control, and efficiency. By bypassing complex correspondent banking systems and optimizing capital flows through proprietary routing technology, OpenFX delivers settlement in minutes, not days, and reduces costs significantly. The platform can be accessed through a single API or dashboard, providing a unified interface for managing global treasury operations.
Target Audience
OpenFX targets payment service providers, remittance companies, and neo-brokers seeking to modernize their FX infrastructure, streamline global payouts, and reduce costs associated with cross-border transactions.
Features
- 24/7 FX trading and settlement, including weekends and holidays
- Real-time FX conversions at competitive rates across 40+ currency pairs
- Access to local rails in 25+ countries for faster payouts
- Automated treasury workflows to streamline operations
- Unified API for integrating live pricing, balance checks, and trade execution
- Role-based access control for managing user permissions
- Real-time tracking and audit trails for all transactions
- Compliance with regulatory standards across multiple jurisdictions