OpenFX raises $94M
OpenFX raised $94 million to scale stablecoin‑based cross‑border payments just as regulators push fintechs to upgrade AML systems—Nigeria’s central bank set a June deadline that’s driving investment in automated compliance and transaction monitoring. ( )
Series A investors named in the company blog include Accel, Atomico, Lightspeed Faction, M13, Northzone and Pantera, with participation from existing backers Flybridge and Hash3; the announcement was posted March 31, 2026. (openfx.com 1) (openfx.com 2) Independent reporting places the round at roughly a $500 million post‑money valuation, according to Reuters coverage cited by industry outlets. (fintechfutures.com) The company says its annualized payment volume jumped from about $4 billion to over $45 billion in a year, it has onboarded more than 100 institutional customers, and it operates with roughly 105 staff across four continents. (openfx.com 1) (openfx.com 2) Product metrics published and reported by trade press show more than 98% of transactions settle in under 60 minutes and the platform supports dozens of FX trading pairs while using stablecoins as an intermediary settlement rail. (electronicpaymentsinternational.com) Planned uses for the capital listed by the company include hiring across product, engineering, operations and go‑to‑market teams and targeted geographic expansion into Southeast Asia and Latin America. (openfx.com) (openfx.com) Nigeria’s Central Bank issued a Compliance Department circular on March 31, 2026, requiring all banks, mobile money operators and other regulated firms to submit detailed implementation plans for the new Baseline Standards for automated AML/CFT/CPF by June 10, 2026. (businessday.ng) The regulator’s guidance explicitly says compliance will be assessed at the institutional level (not on vendor feature‑sets), demands integrated KYC/risk scoring and transaction‑monitoring architectures, and sets staggered implementation windows (deposit money banks typically given longer phases such as 18 months). (dojah.io) Trade coverage and the CBN circular note increased vendor engagement and a shift toward automated, AI‑enabled monitoring, which creates a near‑term procurement and integration market for AML engines, transaction‑monitoring platforms and end‑to‑end GRC tooling among Nigerian banks and fintechs. (businessday.ng)
