OpenFX Enables Colombian Peso Transactions on International Payments Platform

New Infrastructure Provides a Faster, More Direct Route to Exchange Colombian Pesos at Scale

BOGOTÁ, Colombia--(BUSINESS WIRE)--OpenFX, the foreign exchange (FX) infrastructure company modernizing the way money moves around the world, today announced it has launched support for the Colombian peso (COP) on its cross-border payments platform, substantially improving global market access for both domestic and international enterprises to quickly send, convert, and receive Colombian pesos at scale.

Despite Colombia’s status as the third largest economy in Latin America, its FX market has been slowed by onerous, inefficient bureaucratic processes that place an outsized burden on company-sized international transactions. This reality, combined with the lack of interoperability between its recent Bre-B instant domestic payments system and existing international payment networks, mean that Colombian pesos are laden with a unique set of frictions that stifle growth and investment. This frequently forces cross-border payments to take a costly and time-consuming "hop" through the U.S. dollar, adding unnecessary layers of fees, complexity, and delays. OpenFX's modern, proprietary infrastructure provides a direct settlement route that bypasses these issues, slashing settlement delays from days to minutes and reducing transaction fees by up to 90%.

"Colombia is in the midst of a remarkable digital transformation, from its world-class fintech innovators to the government's forward-thinking modernization of its core financial infrastructure,” said Prabhakar Reddy, OpenFX Founder and CEO. “The country’s global ambitions deserve a financial network that supports innovation and frees its companies from the constraints of outdated market structure.”

This marks OpenFX's fourth expansion into Latin American currency markets over the last quarter, following its addition of Mexico, Brazil, and Argentina on its cross-border platform. In May 2025, the company received a USD 23 million funding round led by Accel.

Modern Infrastructure for the Modern Colombian Economy

Over the last year, OpenFX has already achieved USD 16 billion in annualized cross-border volume. With this expansion, OpenFX is bringing its proven capabilities to Colombia, 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.