What OpenFX does

OpenFX is a real-time cross-border FX payment infrastructure provider founded in 2024 by Prabhakar Reddy (former FalconX co-founder) and headquartered in Miami, with operating entities (Red Envelope Alpha Inc. and Red Envelope Delta, Inc.) incorporated in Delaware. The company operates a settlement network that combines stablecoin rails (USDC, USDT) with traditional banking and local payment rails (SEPA Instant, UK FPS, Australian NPP, and partner-bank corridors in Mexico, Brazil, the Philippines, and others) via proprietary dynamic routing and a market-making engine that dynamically allocates balance sheet across currencies and continuously hedges exposures. The platform supports 40+ currency pairs and 25+ local rails, with 90% of transactions settling in under 60 minutes and 30% settling in under 10 minutes on a 24/7/365 basis at 99.99% uptime. Annualized cross-border payment volume reached $45 billion at the March 2026 Series A and was reported above $70 billion by June 2026, with 11x volume growth in 12 months.

The product is delivered as a Trading API (REST, FIX, Streaming, webhooks) plus a web-based GUI, multi-currency account management, and a free sandbox that typically onboards prospects in under 72 hours. The company packages the core rails into vertical solution bundles for remittance companies, FX on/off-ramps (neobrokers), and payment service providers, and is expanding into brokerages, global payroll platforms, and fintechs. Revenue is generated through spread-based transaction fees (3-5 bps for G20 currencies, 10-12 bps for emerging markets) on a usage-based, volume-tiered model, with the explicit value proposition of eliminating pre-funding of destination accounts for clients.

OpenFX monetizes exclusively through institutional B2B sales (direct enterprise field sales plus self-serve API/sandbox onboarding) and has no retail channel. The company has raised $117M cumulatively ($23M seed led by Accel in May 2025 and a $94M Series A led by Pantera Capital alongside Accel, Atomico, Lightspeed Faction, M13, and Northzone in March 2026, at a ~$500M post-money valuation) and operates from Miami, London, Dubai, Bangalore, New York, and (pending Embed B.V. closing in Q3 2026) Amsterdam. The Embed acquisition adds a Dutch Payment Institution licence (PSD2, EU passporting across 30 EEA states), a UK Electronic Money Institution licence, virtual IBAN issuance, and SEPA/UK FPS/Swiss bank connectivity, marking OpenFX's first regulated European presence. The company is currently headquartered in Miami with 101-250 employees distributed across North America, LATAM, Europe, the Middle East, and APAC.

Name

OpenFX

Legal name

Red Envelope Alpha Inc.

Website

https://openfx.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

51–100 employees

Short description

OpenFX provides real-time cross-border FX payment infrastructure combining stablecoin rails with local banking rails, serving institutional clients including remittance companies, neobanks, payment service providers, and brokerages across 30+ countries.

Ownership category

akta.pro rank

Product category

Cross-Border Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (52321), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

FX Conversion, Pricing & Hedging Infrastructure (Treasury/Rate Engines) (FSAGAKAG)

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), Cross-border Payments, FX & Multi-currency Checkout (CRAFAJAF)

Keywords

• Cross-border payments
• FX liquidity infrastructure
• Real-time FX settlement
• Stablecoin payment rails
• Multi-currency treasury API

Headquarters

HQ city

New City

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain

Revenue model

1. FX spread-based transaction revenue: Pricing is based on the mid-market rate plus a small spread (3-5 bps for G20 currencies, 10-12 bps for emerging markets). Volume-based pricing tiers are offered to high-volume clients (e.g., $30-500M monthly volume clients get 3-5 bps range; >$100M monthly may qualify for custom programs). Revenue scales with transaction volume and is recurring in nature as clients run their treasury and payment flows continuously.
2. Elimination of pre-funding / working capital efficiency revenue: Core commercial value proposition eliminates the need for clients to pre-fund destination accounts; clients pay on transaction basis rather than holding trapped working capital. Implicit in the usage-based spread model above.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

OpenFX provides a real-time cross-border FX settlement network that combines stablecoin rails (USDC/USDT) with traditional local banking rails to deliver 24/7/365 multi-currency money movement for institutional clients. Its proprietary routing and market-making engine bypasses the correspondent banking system, enabling settlement in minutes rather than days across 40+ currency pairs and 25+ local payment rails. Clients integrate via REST/FIX/Streaming APIs or a web-based GUI and pay usage-based spreads on transaction volume.

Product overview

OpenFX offers a single unified cross-border payment platform anchored by a real-time FX settlement network that combines a Trading API (REST/FIX/streaming/webhooks) with a web-based GUI, multi-currency account management dashboards, and a sandbox environment for onboarding within 72 hours. The platform is packaged into three vertical solution bundles — FX On/Off-Ramps, Remittance Companies, and Payment Service Providers — that tailor the core rails to specific client segments. Through the pending acquisition of Embed B.V., OpenFX is adding European licensed payments infrastructure (PSD2 Dutch PI, UK EMI, virtual IBANs, SEPA/FPS/Swiss bank connectivity), which extends the unified platform into regulated European corridors. The product supports 40+ currency pairs and 25+ local rails and is operated as a 24/7/365 service with stablecoin (USDC, USDT) and fiat support.

Differentiator

Problem solved

Functional benefit

Products and services

• OpenFX Cross-Border Payment Platform Real-time cross-border money movement platform that aggregates fragmented domestic payment rails to bypass correspondent banking, offering 24/7/365 settlement across 40+ currency pairs and 25+ local rails with sub-60-minute settlement. Targets institutional clients in remittance, neobanking, PSP, brokerage, and payroll segments.
• OpenFX Trading API Embeddable API supporting REST, FIX, and streaming protocols plus webhooks, designed to automate quotes, trades, deposits, and withdrawals programmatically without manual steps. Includes time-locked quote guarantees and supports multi-currency account holdings.
• OpenFX Web-based GUI
• OpenFX Sandbox
• OpenFX Multi-Currency Account Management
• OpenFX for Remittance Companies
• OpenFX for FX On/Off-Ramps
• OpenFX for Payment Service Providers
• Argentine Peso (ARS) Cross-Border Settlement Support
• Colombian Peso (COP) Direct Settlement Support
• Philippine Peso (PHP) FX Liquidity Corridor

Quantifiable outcome

• 99% faster settlement versus 2-7 day industry standard
• +6 more outcomes

Named customers2 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability6 records

Feature6 records

Partnerships

Two partnerships are on record, tiered flagship acquisition target and core partner bank.

• Embed B.V.flagship acquisition targetStrategic or Co-development Partner · 2 June 2026Acquisition agreement announced June 2026 (expected to close Q3 2026 subject to regulatory approval). Embed is an Amsterdam-based licensed payments infrastructure business with a Dutch Payment Institution licence (passporting across all 30 EEA member states under PSD2) and a UK Small Electronic Money Institution licence from the FCA. Brings virtual IBAN issuance, multi-party balance accounts, and SEPA, UK FPS, and Swiss bank connectivity to OpenFX's platform. Financial terms undisclosed. OpenFX opens London and Amsterdam offices staffed by a 20-person team as part of the deal.
• Cross River Bankcore partner bankChannel Partner/ Reseller/ DistributorPartner bank in the United States; enables intrabank transfer as the fastest USD funding option (USD does not currently support RTP).

Scale indicators12 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• BVNK: BVNK is a stablecoin-based cross-border payments platform serving enterprise and fintech clients with real-time FX and on/off-ramp infrastructure — directly comparable to OpenFX's core product and target customer base.
• Nium: Nium is a global cross-border payments network offering real-time payouts, multi-currency accounts, and FX infrastructure to PSPs, neobanks, and remittance providers — the same enterprise segments OpenFX targets.
• Currencycloud (Visa): Currencycloud provides cross-border FX, multi-currency wallets, and payment infrastructure to banks and fintechs. Now owned by Visa, it competes head-to-head with OpenFX in B2B FX-as-a-service.
• Ripple: Ripple (XRP Ledger + RippleNet + RLUSD stablecoin) is a leading enterprise cross-border payment and FX network, increasingly overlapping with OpenFX in stablecoin-bridged B2B settlement.
• Circle: Circle, the issuer of USDC, has been expanding its own payments network (Circle Payments Network) and competes directly with OpenFX by offering stablecoin-native cross-border settlement to financial institutions.

Broad incumbents

• Wise (TransferWise): Wise is a large, established cross-border money movement and multi-currency account provider. While consumer-led, its B2B / Wise Platform offering increasingly overlaps with OpenFX's remittance and PSP customer segments.
• Stripe: Stripe's global payments and FX infrastructure (including multi-currency accounts and cross-border payouts) serves PSPs and platforms — the same enterprise segments OpenFX targets, though as part of a much broader product portfolio.

Emerging players

• Modern Treasury: Modern Treasury provides treasury and payment operations infrastructure (including multi-bank APIs) to fintechs and platforms. Adjacent to OpenFX as both target enterprise treasury automation use cases.
• FalconX: FalconX is a digital asset prime brokerage founded by OpenFX's founder Prabhakar Reddy. It overlaps in institutional crypto liquidity and cross-border settlement for trading desks — a closely related space.

Regional players

• Bitso: Bitso is the largest LATAM crypto exchange and stablecoin on/off-ramp, with deep Mexican, Brazilian, and Argentine corridor coverage. It overlaps with OpenFX's highest-volume region and competes for the same institutional flows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/openfx_
• LinkedInlinkedin.com/company/openfx

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OpenFX