According to ChainCatcher, real-time cross-border fund movement platform OpenFX has announced the acquisition of Global Ledger. Tyler McIntyre, the founder of Global Ledger, will become head of banking at OpenFX. OpenFX also introduced a multi-currency account service in the same announcement. McIntyre previously co-founded Novo, a bank that now serves more than 300,000 businesses and has a valuation above $700 million. The multi-currency account lets customers pay in local currency. Companies can hold funds that have been received in the account and are not forced to convert them immediately. The initial product from OpenFX is a named USD account. This account can send and receive money through ACH, Fedwire and SWIFT in more than 100 countries. It is also compatible with stablecoins such as USDC for instant connection. The acquisition adds Global Ledger to OpenFX's business, and McIntyre takes on the banking leadership role at OpenFX. The launch of the account service gives OpenFX a new product alongside its cross-border payment platform. All information in this summary is drawn from the ChainCatcher update.
OpenFX, a real-time cross-border fund movement platform, has acquired Global Ledger, according to ChainCatcher. Tyler McIntyre, founder of Global Ledger, will become head of banking at OpenFX. The company is also launching a multi-currency account service.
McIntyre previously co-founded Novo, a digital bank serving more than 300,000 businesses and valued at over $700 million.
The new account service allows customers to pay in local currency. Companies can keep received funds in the account instead of exchanging them right away. The first product is a named USD account, which accepts and sends payments through ACH, Fedwire and SWIFT in more than 100 countries. It can also be linked instantly to stablecoins such as USDC.
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