Sourav Karmakar

“The blockchain solved cross-border payments, and anyone still struggling just hasn’t adopted them yet.” This is basically nonsense. A common sentiment, and not entirely unjustifiable, but basically nonsense. Sit in any payments company pitch in 2026 and you'll hear "instant blockchain settlement" within the first five minutes. People nod along because it’s partially true. We all pretend that moving stablecoins between wallets was the thing that needed solving. But we all know there is more to it than that. If you've ever actually tried to get $50 million through an exotic corridor on a Saturday night, you know the blockchain transfer is the least of your worries. Maybe 1% of the problem. Here's what everyone knows but rarely talks about in the marketing copy: Before that five-second transfer can happen, you need to clear that $50M through domestic banking rails. Run compliance screening. Handle the edge cases that trigger manual review. Get the money on-chain in the first place. After that five-second transfer, you need liquidity in the target currency. Not thin liquidity that slips when you execute at size, but actual depth. That makes banking partners willing to take your calls after getting home from their kid’s soccer game. Then you need to navigate local payment rails that work differently in every jurisdiction. Then you need to land the funds in a bank account that's willing to receive them. The blockchain transfer sits in the middle of all of this – fast, commoditized and largely irrelevant. Exotic corridors don't fail on-chain. They fail at the off-ramp. They fail because not many people  have those kinds of banking relationships. They fail because liquidity doesn't exist at the depth you need between BRL and AED. They fail because for a long time everyone was worried about moving G3 dollars a micro-second faster, and almost no one focused on building rails the rest of the world could use. Here at OpenFX we say that we want to "move money like data.” But what does that mean? That means caring about every part of the transaction – the iceberg, above and below the surface. It also means caring more about emerging markets and exotic corridors, where these problems are even more acutely felt. Blockchain as a selling proposition is over. Wallet-to-wallet transfers are fully commoditized.That part of the game has been won, what matters now is whether the money wallets move actually lands in the account your supplier can access, in the currency they need, on the timeline you promised. That's an operations problem. An infrastructure problem. A relationships problem. The kind of hard problem we were built to solve.

We came out of stealth nine months ago at $8B in volume. As of February we crossed $45B. Revenue is up 10x. This week we raised a $94M Series A. @Accel, @atomico, @FactionVC, @northzoneVC, @M13Company, @PanteraCapital, some of the biggest names on both sides of finance chose to back us. You might be wondering why.

There are two ways to touch 8 billion lives: acquire 8 billion individual customers, or build the infrastructure for the institutions that already serve them. We chose the latter. Today we're announcing OpenFX’s $94M Series A from @Accel, @atomico, @FactionVC, @M13Company , @northzoneVC, @PanteraCapital, and with support from existing investors @flybridge and @hash3xyz.