Joined May 2010
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Apr 2
The real constraint in cross-border payments was never speed; it was liquidity.
Read more here: openfx.com/blog/the-story-of…
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Jun 5
Europe’s stablecoin waiting period is over.
@openfx_ just came back from Stablecon EMEA in Amsterdam, where the most interesting conversations weren’t about hype cycles, token design, or abstract regulatory theory.
They were much more focused:
- How does fiat get on-ramped?
- What actually happens in the middle?
- How does local currency come out the other end?
- How do liquidity and regulation influence payment flows?
@chuk_xyz and @AnjliAmin I had an engaging panel discussion in which we addressed these questions from the perspectives of banks, policy officials, consultants, and payment leaders.
The global shift in stablecoin regulation has opened the door. Now the industry is in free fall, trying to understand how these rails work in practice before the ground catches up.
We wrote up what we saw in Amsterdam, why Europe’s posture is changing, and what it means for the future of cross-border money movement.
Read more here: openfx.com/blog/stablecon-em…
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Jun 3
Awesome right up by @Accel on @openfx_ founder @prabhakar2reddy and the problem in cross-border payments being solved
Jun 3
Cross-border payments still run on infrastructure built decades ago. Settlements take days, costs remain high, and businesses are forced to pre-fund accounts across countries, leaving $4 trillion in working capital sitting idle globally.
OpenFX (@openfx_) is addressing this by using stablecoins as a settlement layer to enable near-instant FX conversion across any currency pair, 24x7, eliminating the need for traditional intermediary banking networks.
Read this blog by Manasi Shah and Shekhar Kirani (@skirani) on why we continue our partnership with OpenFX, and our conviction in rebuilding the rails global business runs on.
@prabhakar2reddy • #AccelFamily
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Jun 1
It’s fitting to announce our acquisition as the industry comes together in Amsterdam for @money2020 Europe.
@openfx_ acquires Embed, an Amsterdam-based payments infrastructure company. It’s our first acquisition, a major step in our European expansion, and a clear statement about how we think financial infrastructure should be built.
Many companies claim to operate across Europe. In practice, many are reselling someone else’s license, relying on a partner’s BIN, or sitting one step removed from the regulated rails their customers depend on.
That can work for a while. But when a corridor breaks, a partner changes terms, or a customer needs certainty, the difference between renting access and owning the regulated layer becomes very real.
With Embed, OpenFX is moving deeper into that regulated layer.
Embed holds two licenses that matter: a Dutch PI regulated by DNB and a UK EMI regulated by the FCA. The transaction is subject to regulatory approval, but once complete, OpenFX will have regulated entities in two of Europe’s most important financial jurisdictions.
For our customers, that means more control, more resilience, and a stronger foundation for moving money across markets.
We’re also building the team locally. We now have offices in London and Amsterdam, with 20 people across Product, Engineering, Compliance, and Go-To-Market.
With backing from European investors, including @northzoneVC and @atomico, and $60B in annualized TPV across the network, Europe has become our largest commitment outside the United States.
We’re here to build locally, own the infrastructure that matters, and make global money movement more reliable from the ground up.
openfx.com/blog/openfx-doubl…
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May 15
Stablecoins solved a real problem. They shortcut the correspondent banking network, side-stepping days of unnecessary delays.
That's genuine progress. For the first time in half a century, the needle moved on cross-border settlement speed.
So why can it still take days to complete a transaction?
Because a transaction that looks smooth on the surface hides the dozens of processes required to actually move money from one place to another, and the wallet-to-wallet transfer is only a tiny part. Everything else requires skill to manage.
How well a provider navigates these challenges can mean the difference between a transaction that clears in 60 minutes and one that takes a day.
Cross-border payments are an iceberg.
In this article, we show you how deep it goes => openfx.com/blog/anatomy-of-c…
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May 4
Join us to kick off Consensus in Miami on May 5 with @M13, @WithAlfred, and @yellowcard_app.
7:30 PM panel on stablecoins and cross-border:
Prabhakar Reddy (OpenFX), Latif Peracha (M13), Diego Yanez (Alfred), John Colson (Yellowcard).
RSVP =>luma.com/qri7m3ps?tk=KnOnAz
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May 2
It’s all about reframing….
Stablecoin desirable and crypto dirty….
In the end everyone just wants a payment experience that feels like the speed of cash in person, anytime time of day, with no middle man taking fees.
Seems simple enough.
May 1
SF / @Stripe Sessions takeaways 🌉
Crypto x Fintech:
- fintech is taking over crypto - they’re raising money without telling investors they’re actually using crypto underneath, crypto founders take note
- corporates are extremely interested in stablecoins, not crypto
- enterprises guarantee if something doesn’t work they’ll make a customer whole, crypto teams don’t do this enough, which important in the agent era when there’s a lot of risk
- imo there’s room for a decentralised network that uses all agent payment standards and is open - @Tempo will be huge for enterprises and massive for blockchain adoption, TBD on timeline for a 3rd party developer ecosystem there
- still think some of the best apps in the world going forward will uniquely use crypto rails in a way competitors (like pure AI) don’t to differentiate and provide better UX / value to users
AI
- AI infrastructure is everywhere, if people think crypto pitches are saturated, try AI
- lots of talk about what AI agents will do but unclear exactly what they’ll be doing in outstanding use-cases
- somewhat consensus in SF that blockchain can improve trust of AI, yet very little founders have answers as to how to make it happen
- becoming more consensus that hardware is a great way to build strong moats in the age of AI
- accessing prop data is a huge moat for AI startups, there’s likely industries that are sitting on very interesting datasets in niche markets that will be high growth in the future, which AI startups can target - interesting investment opportunity
Startups & Fundraising:
- very few founders have good responses for why frontier models won’t eat their startup in the next 6-12 months
- the best startups glue incredibly complex workflows together, which require special kinds of permissions to do so and would be hard for competitors to replicate
- surprising amount of trad VCs have dedicated crypto teams
- talent in SF is best I’ve ever seen, barely had 1 bad pitch across crypto or AI
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overall I’m very bullish SF and the intersection of crypto, FinTech and AI.
The vibes are high in SF. People are curious in how technologies will intersect and care about distribution / moats. Could see some generational winners here being built at the intersection if not already, then in the future.
Now headed to Consensus Miami! DMs open for builders keen to meet there 🌴
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Apr 28
The longer I study cross-border payments in emerging markets, the more I believe that "settlement speed" is an effect, downstream of what really matters: liquidity.
Liquidity and its availability determine how fast the transaction settles, what price it settles at, and how reliably you can scale that transaction across the corridor.
In a G7 corridor like EUR/USD, liquidity is self-reinforcing. High volume attracts market makers and tightens spreads, tighter spreads attract more volume.
In exotic corridors, the cycle inverts. Lower volumes mean wider spreads and fewer people willing to make markets. Everything gets worse because the situation is already bad.
Traditional banking institutions do this math and retreat.
This clarified something for me.
Technology alone won't solve liquidity in emerging markets, nor will traditional institutions. You can build "faster rails," but if the economics of providing liquidity don't work, the liquidity won't materialize.
These corridors need infrastructure designed around different economics — where the cost of providing liquidity makes sense, not just in New York and London, but in Lagos and Manila and São Paulo.
More on what that looks like:
openfx.com/blog/fx-liquidity…
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Harrison Mann retweeted
Apr 28
The new stack for global finance, mapped 👇
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Apr 27
The narrative is here to stay…
Apr 27
AGREE: There’s no such thing as the petrodollar via @FT. Very nice piece. giftarticle.ft.com/giftartic…
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Apr 14
The future is stable
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Our Founder @prabhakar2reddy had the opportunity to sit down with Atomico to discuss his entrepreneurial journey.
In this clip, he describes how he decides which ideas to pursue, and the personal story that led him to start OpenFX.
Some of the key take-aways:
- Have a clear vision of the future, of what is possible.
- Double down in those domains where this future meets your unique abilities.
- Invest in others who can carry the torch in those areas outside of your expertise.
This is a part of a much longer interview that you can see if you visit @atomico's page.
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Apr 14
The most misleading phrase in global finance: “instant settlement.”
In most corridors, money doesn’t simply jump from the vendor to the recipient, arriving in their hands instantly after the transfer is initiated. It passes through sometimes dozens of hands, where it is screened, run through a compliance gauntlet, and converted between one or more intermediary currencies.
At every step, fees and the risk of slippage mount. @openfx_ understands this problem deeply at each phase of the payment process and has started with FX conversion to improve.
I wrote a quick, practical explainer with numbers and a mental model you can reuse to understand this process.
#MoneyManagement #CrossChain #remittance
openfx.com/blog/anatomy-of-a…
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Apr 13
FX Liquidity is the oil of the cross-border payments engine.
Without liquidity, payments seize up, just like an engine, as prices spike with massive slippage and orders fail to fill.
Crypto native, naturally, understands this pain after probably being part of a shit-coin project that mooned and crashed, and you went from being a millionaire to losing it all.
How does the rest of the world relate without understanding the difference between high and low quality liquidity?
My thoughts on it here => openfx.com/blog/high-vs-low-…
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Apr 10
Every FX provider advertises "tight spreads" and "deep liquidity" on a sunny day. But what happens when market volatility hits?
Everything breaks down:
Trades are rejected, spreads widen, and settlement times become completely unreliable. Worse of all, these failures are entirely opaque.
Planning around a system so prone to breaking down means spending enormous amounts of time and resources developing complex hedging strategies and operational processes instead of scaling your business.
This is the true cost of low-quality liquidity, the operational drag required to babysit fragile legacy infrastructure.
At @openfx_ , we've built our liquidity infrastructure with market volatility in mind. We focus on liquidity depth that can withstand macroeconomic shocks and transparency, so you always know where your money is.
OpenFX's investors realize how big a problem this is to tackle => @Accel / @PanteraCapital / @M13Company / @FactionVC / @northzoneVC / @atomico / @hash3xyz / @NFX
If you want to learn more about how we differentiate "real liquidity" from everything else, read our recent post.
openfx.com/blog/high-vs-low-…
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Harrison Mann retweeted
Apr 9
According to J.P Morgan, in 2024 there was over $200 trillion in annual cross-border payment volume. And it's expected to surpass $300 trillion within the next several years.
@openfx_ is tackling one of the largest market opportunities that exits.
Don't miss my interview with @prabhakar2reddy to learn more about OpenFX and how he see's OpenFX changing the way money moves around the world.
$4 trillion is stuck in legacy payment rails. Cross-border FX is still broken. OpenFX is fixing it.
@prabhakar2reddy CEO of @openfx_ joins our Stateful podcast, hosted by @masonnystrom.
In this episode, they discuss the future of money movement:
- Zero to $40B annualized TPV in 18 months, 99.99% automated, 3 people on trade ops
- Stablecoins replace SWIFT: cross-border settlement in under 60 minutes, 24/7
- FX spreads compressed by 90-95% in every market OpenFX enters
- Agentic payments timeline just collapsed from 7-10 years to 24-36 months
- Spot FX could grow from $2 trillion to $200 trillion a day as the pipes widen
00:59 Why Cross-Border FX Is Still Broken in 2025
03:35 GBP to MXN in Minutes: How Open FX Works
07:14 $4 Trillion Stuck in Transit Right Now
07:44 Zero to $40B TPV in 18 Months
09:07 The 3 Factors Behind Open FX's Explosion
12:08 Payments Is Going Through a Complete Upheaval
14:55 AI Agents Won't Wait 3 Days for Money to Move
16:42 Open FX Is Building the AWS of Money
17:10 Do Fintech Moats Still Exist?
18:40 Moving $100B in Crypto vs. 5 Days for Wires
19:40 Why Crypto Companies Die Without Compliance
20:14 Culture Is Just the Founder's Personality Scaled
22:08 The World Order Is Changing
23:22 Agent Payments: From 10 Years Away to 24 Months
24:35 Where a Payments Insider Would Bet Today
25:47 Why There's No Universal Founder Advice
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Apr 7
Lucky to have @Accel on the @openfx_ cap table.
Rarely do you have great investors who understand the vision so clearly and understand the cross-border money movement problem in emerging markets and exotic currencies so clearly.
#investors #payments
22 May 2025
Cross-border payments remain stuck in the past — slow, expensive, and reliant on legacy systems.
@prabhakar2reddy is building the fix: @openfx_, a real-time FX settlement network that moves money as seamlessly as data.
Today, global payments take 2–7 days to settle. OpenFX clears 90% of transactions in under 60 minutes — and does it at up to 90% lower cost.
With its continuous settlement model and multi-layer liquidity engine, OpenFX is radically rethinking how capital moves across borders.
In just a year, it has scaled to $10B in annualized transaction volume, serving neobanks, remittance players, brokerages, and global payroll platforms.
We’re excited to partner with Prabhakar and the OpenFX team as they modernize the world’s financial plumbing.
Welcome to the #AccelFamily!
Read more: fortune.com/2025/05/22/openf…
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