OpenFX Pushes Past $100B in Annualized TPV

We just crossed 100B in TPV.

That's a more than 50% increase in payments volume since the last time we announced our numbers a few months ago.

Our growth has been enormous, and none of it would be possible without the global team we are building.

Their incredible work has allowed us to launch our Developer Documentation Portal, Global Accounts and OpenFX Ventures, while continuing to expand our operations in Latin America and Asia.

Success this fast and this total would be impossible without them.

As another successful year draws to a close, I'd like to take a step back and look a bit more closely at the mission, because how we got here is the result of our commitment to the promise that money should move around the world like data.

Moving Money Like Data

Traditional correspondent banking was not built for most of the world. It is designed around a tiny number of economies, leaving almost every other country on the planet with slower, more expensive cross-border FX than they should have.

While these countries have worked to build alternatives, it's not enough. The world hasn't been sitting on its heels. We've seen incredible RTGS systems springing up -- SPEI, PIX -- alongside projects designed to connect these local rails into regional networks. Still, more can be done.

That's why we exist: to do for FX what AWS did for server provisioning. Where we think we can touch the most lives is by becoming the pipes through which global money moves. Stablecoins and AI technologies offer us the opportunity to build tools that will empower our partners to move money anywhere on the planet, faster, cheaper, and with less risk.

We're not trying to replace other payment companies. Quite the opposite, we see anyone who moves money as a potential partner. Fintechs and payment providers know their markets. They know their customers. What they need are better tools to help them solve problems that would otherwise take months of time and potentially millions of dollars. A system they can plug into, rather than having to build one for themselves.

We are building the tools to make that possible. First Convert, and then Global Accounts/Send. We've opened a venture arm to identify other business leaders who can use our products to scale their firms, and we're ensuring that everything we do is automation-first, focusing on compliance-forward, API- and AI-driven processes to accelerate growth and reduce error.

This is how we've gotten to our first 100B and how we will get to the next.