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OpenFX Raises $94 Million at Approximately $500 Million Valuation

Reuters reports the foreign exchange market-making and cross-border remittance startup uses stablecoins to link banks with blockchain infrastructure and plans expansion into Southeast Asia and Latin America.

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Terms & Concepts
  • Stablecoins: Cryptocurrencies designed to maintain a stable value, often by being pegged to a fiat currency such as the U.S. dollar.
  • Blockchain infrastructure: The underlying network and tools that support recording, transferring, and verifying digital assets on a blockchain.
  • Cross-border remittance: The transfer of money between countries, often used for payments and settlement across different financial systems.