Cross-border remittance startup OpenFX raises $94 million, led by Pantera and others.

According to Reuters, OpenFX, a foreign exchange market-making and cross-border remittance startup, has raised $94 million in funding. The round was led by Accel, Lightspeed Faction, M13, Northzone, and Pantera, valuing the company at approximately $500 million post-money. OpenFX provides faster and lower-cost settlement services for large cross-border funds by using stablecoins as a bridge between the banking system and blockchain infrastructure. OpenFX plans to use the funds to expand into Southeast Asia and Latin America.