OpenFX Acquires Global Ledger for Programmable Multi-Currency Accounts

OpenFX has acquired Global Ledger to launch programmable multi-currency accounts for fintechs and digital asset firms. The transaction terms were not disclosed.

Tyler McIntyre, founder of Global Ledger, is joining OpenFX as Head of Banking. He previously co-founded business neobank Novo, which served more than 300,000 businesses and was last valued at over $700 million.

The new multi-currency accounts will allow customers to pay businesses locally in their own currencies while allowing those businesses to hold incoming funds instead of auto-converting. The accounts are initially rolling out named USD accounts transacting over ACH, Fedwire and SWIFT, with coverage into more than 100 countries.