OpenFX, an FX infrastructure company modernizing the way institutions move money around the world, is now available in Brazil, providing a more streamlined solution for cross-border payments.
This expansion aims to improve the country’s access to the FX markets, supporting its already competitive remittance industry while offering more liquidity to all enterprises that rely on cross-border payments.
OpenFX’s expansion into Brazil follows its recent USD 23 million funding round led by Accel, and its move into Mexico.
“Brazil has built something remarkable: digital payments infrastructure that moves money instantly for 150 million people, a fintech ecosystem that rivals Silicon Valley, and industrial champions that feed and fuel the world,” said Prabhakar Reddy, OpenFX Founder & CEO. “Yet when these same companies reach beyond Brazil’s borders, they hit a wall, facing cross-border payments that take days, not seconds. We are making OpenFX’s solutions available in Brazil to provide the modern financial rails its businesses deserve, eliminating artificial delays that constrain growth and unlocking the nation’s full potential on the world stage.”
OpenFX provides the infrastructure to extend the real-time principles of PIX to global payments, enabling rapid and cost-effective transactions for Brazil’s exporters and importers. For the country’s world-class fintech ecosystem, OpenFX increases efficiency and unlocks the ability to build new international products, all while seamlessly integrating with PIX.
Over the last year, OpenFX has already achieved USD 10 billion in annualized cross-border volume, making a significant, direct impact on its clients’ operations.
