OpenFX Launches in Brazil

OpenFX Facilitates Fast, Transparent and Cost-Effective Money Movement For Brazilian Businesses, Unlocking Growth Capital Amidst a Challenging Global Trading Environment

SAO PAULO--(BUSINESS WIRE)--OpenFX, the 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 will dramatically improve the country’s access to the FX markets, supporting their 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.”

Despite the economic dynamism and Brazil's domestic success with PIX, businesses still face significant friction when transacting internationally. The country's robust commodity and manufacturing sectors are constrained by legacy payment infrastructure that leads to multi-day settlement delays, opaque pricing, high transaction costs (often 1-3%), and significant trapped working capital when dealing with global partners. This creates a disconnect between the instant efficiency people and businesses enjoy at home and the slow, costly reality of cross-border commerce.

OpenFX was purpose-built to bridge this gap. The platform 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.

Building Borderless Infrastructure for Global Markets
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. In extending its reach to Brazil, OpenFX is bringing its proven capabilities to Brazil, including:

• Up to 99% Faster Settlement: Most transactions settle within 60 minutes compared to the regional standard of 1-3 business days.
• Up to 90% Cost Reduction: Capital-efficient technology and a proprietary payment rail slash fees from percentage points to basis points, freeing up company cash flows.
• 24/7/365 Availability: Unlike traditional FX markets, which close evenings and weekends, OpenFX operates around the clock, unlocking new possibilities for global business and urgent cross-border needs.
• Cutting-Edge Transparency and Security: Real-time APIs, advanced settlement technology, and predictive analytics ensure optimal routing, compliance, and reliability, even in highly regulated environments.

About OpenFX
OpenFX is creating the financial market infrastructure for the AI economy through its real-time cross-border payments platform and settlement network. By combining the power of new-age payment rails and innovative last-mile liquidity sourcing models, OpenFX enables near-instant FX settlements across borders, making money transfers 99% faster, up to 90% cheaper, and available 24/7/365. Founded in 2024 by serial entrepreneur Prabhakar Reddy, the company has a rapidly growing team operating across a global footprint. Learn more at www.openfx.com.