nfx

According to Reuters, foreign exchange market-making and cross-border remittance startup OpenFX has completed a $94 million financing round, led by institutions such as Accel, Lightspeed Faction, M13, Northzone, and Pantera, with a post-money valuation of approximately $500 million.OpenFX provides faster and lower-cost settlement services for large cross-border funds by using stablecoins as a bridge connecting the banking system with blockchain infrastructure. The company claims that over 98% of transactions on its platform can be settled within 60 minutes, and its annual payment processing scale has increased from approximately $4 billion to about $45 billion. OpenFX plans to use this round of funding to expand into Southeast Asia and Latin America markets.

ChainCatcher news, according to Fortune, stablecoin cross-border trading startup OpenFX announced the completion of a $23 million financing round, led by Accel. The company was founded by Prabhakar Reddy, with the goal of replacing SWIFT and creating a cross-border trading network based on stablecoins.OpenFX currently supports 7 currencies, including the US dollar, euro, and Mexican peso, and plans to expand to 10 currencies this summer, including those in Southeast Asia.

ChainCatcher news, social gaming company ACID Labs has raised $8 million in funding, led by a16z Speedrun and NFX. It is reported that ACID Labs' game Boinkers.io has reached 11.5 million monthly active users on Telegram and plans to launch more social-first games.

ChainCatcher news, according to CoinDesk, insurance provider OpenCover has completed a $4 million seed funding round, led by NFX and Jump Crypto, and has also secured an additional $200,000 from Coinbase, and is now live on Base.OpenCover CEO Jeremiah Smith stated that OpenCover has also launched an insurance alternative on Optimism and is currently collaborating with Aave, Uniswap, Curve, Safe, Morpho, Synthetix, Beefy, Angle, 1inch, and Yearn.

ChainCatcher news, according to The Block, Web3 gaming infrastructure startup Xternity has completed a $4.5 million pre-seed funding round, led by NFX, with participation from Jibe Ventures, Flori Ventures, Secret Chord Ventures, and vGames.It is reported that Xternity aims to help Web2 game publishers adopt Web3 technologies, including NFTs, through its "no-code" platform, and supports publishers in creating NFT collectibles, providing them with customized wallets and loyalty clubs. The platform currently supports multiple blockchains, including Polygon, ImmutableX, Solana, Binance, Celo, and Ethereum. (The Block)

ChainCatcher news, DeFi credit startup Carapace has completed a $2.5 million financing round, led by NFX, with participation from Tribe Capital, Ledger Prime, GSR, and others.It is reported that Carapace provides default risk protection for low-collateral or unsecured loans in the crypto market, aiming to connect buyers and sellers to mitigate credit default risks. Carapace will launch on the decentralized credit platform Goldfinch in early 2023. (source link)