OpenFX, a FX infrastructure company that modernizes how institutions move money around the world, is now available in Brazil, providing a more rational solution for cross -border payments.
This expansion aims to improve the country’s access to the FX markets, supporting the already competitive remittance industry, while providing greater liquidity to all cross -border payments.
The expansion of OpenFX to Brazil follows the recent round of US $ 23 million, led by Accel and its move to Mexico.
“Brazil has built something remarkable: the digital payment infrastructure that moves the money immediately for 150 million people, an ecosystem of Fintech that competes with Silicon Valley and the industrial champions supplying and supplying the world,” said Prabhakar Reddy, and Prabhakar Reddy. “However, when these same companies reach the Brazilian border, they hit a wall, facing cross -border payments that need days, not seconds.
OpenFX provides the infrastructure to expand PIX in real time to global payments, allowing rapid and cost -effective transactions for exporters and importers of Brazil. For the fintech ecosystem of the world class, OpenFX increases efficiency and unlocks the ability to manufacture new international products while incorporating Pix seamlessly.
During last year, OpenFX has already achieved $ 10 billion in an annual cross -border volume, making a significant direct impact on its customers’ functions.