Stablecoin cross-border trading startup OpenFX completes $23 million financing, led by Accel

OpenFX, a stablecoin cross-border transaction startup, announced the completion of a $23 million funding round led by Accel. The company, founded by Prabhakar Reddy, aims to replace SWIFT and build a stablecoin-based cross-border transaction network. OpenFX currently supports 7 currencies, including the US dollar, the euro and the Mexican peso, and plans to expand to 10 currencies this summer, including South East Asia.