OpenFX acquires Embed to secure EU-wide payments licences and UK EMI upgrade path

OpenFX has agreed to acquire Embed B.V., a licensed payments infrastructure provider based in Amsterdam, in a deal that will give the cross-border platform its first regulated presence in both the European Economic Area and the United Kingdom. The transaction, with terms undisclosed, is subject to regulatory approval and is expected to close in Q3 2026.

Embed holds a Payment Institution licence from De Nederlandsche Bank, passportable across all 30 EEA member states under PSD2, and a Small Electronic Money Institution licence from the UK Financial Conduct Authority. OpenFX plans to upgrade the UK permission to full Authorised EMI status as its next regulatory milestone, positioning the firm to run a more complete European and UK payments stack in-house.

The acquisition brings Embed's infrastructure into the OpenFX platform, including virtual IBAN issuance, multi-party balance accounts, and connectivity to SEPA, UK Faster Payments, and Swiss banking rails. OpenFX, which processed over $60 billion in annualised cross-border FX volume in April 2026 under US state MTLs, a FinCEN MSB registration, and FINTRAC registration in Canada, will be able to extend third-party payment services to EEA and UK clients alongside its existing US footprint.

Embed's founding team will support the integration and remain in operational roles, while members of its engineering and finance teams have already joined OpenFX. Prabhakar Reddy, Founder of 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 Co-Founder Alex Schoonkind added, "We built this stack for a different use case, but the underlying infrastructure is exactly what a cross-border platform needs: virtual IBANs, multi-rail bank connectivity, EEA and UK coverage. Combining it with OpenFX's distribution is the right home for the technology."

The deal follows OpenFX's $94 million Series A round in March 2026 and underscores a broader land grab for licensed payments infrastructure as cross-border platforms seek onshore coverage across major regions. With EEA passporting and a path to UK Authorised EMI status, OpenFX is positioned to deepen its service to fintechs, neobanks, remittance providers and global payroll platforms across Europe once regulators sign off on the acquisition.