OpenFX acquires Embed to expand regulated payments in Europe

By Milan Rojan

OpenFX has agreed to acquire Amsterdam-based payments infrastructure provider Embed, marking a step in its expansion into regulated European markets.

The acquisition has given OpenFX access to Embed’s existing authorisations in the European Economic Area and the United Kingdom. The deal has also extended OpenFX’s planned operational footprint into London and Amsterdam, where the company is expected to establish a local presence following completion.

Prabhakar Reddy, Chief Executive, OpenFX, said, “As we continue to pursue our mission to bring modern financial rails to the entire world, we are proud to be joined by the team at Embed. They have built a spectacular product that will help grow our capabilities, particularly in Europe.”

Embed has operated as a payments infrastructure provider offering services including virtual IBANs and multi-rail banking connectivity across European and UK markets. These capabilities are expected to be integrated into OpenFX’s cross-border payments and FX infrastructure stack after the transaction closes.

The acquisition has remained subject to regulatory approval, with completion expected following standard closing conditions. Financial terms have not been disclosed.

The deal has reflected continued activity in the European payments infrastructure market, where firms have been seeking regulated access and localised capabilities to support cross-border transaction flows.

Alex Schoonkind, co-founder, Embed, said, “We built this stack for a different use case, but the underlying infrastructure is exactly what a cross-border platform needs: virtual IBANs, multirail bank connectivity, EEA and UK coverage.”

OpenFX has previously expanded its presence across multiple regions, including North America, Europe, the Middle East and Asia, as it builds out its real-time cross-border payments infrastructure. The Embed acquisition has added regulated European capabilities to that broader network.

The transaction has underscored ongoing consolidation across the payments infrastructure sector as providers continue to expand regulated access and regional coverage.