CFX Labs

Chicago-based CFX Labs is a financial technology company that develops a stablecoin protocol issuing over one hundred local currency stablecoins backed by USDC to facilitate international remittances. The enterprise operates a secure closed-loop blockchain system designed to function as a layer two network on the traditional international banking system, reducing cross-border payment costs and settlement times. The venture-backed firm has raised $9.6 million across pre-seed and seed funding rounds to scale its proprietary global payment processing infrastructure. CFX Labs integrates with key payment networks across the United States, Mexico, Brazil, India, and Nigeria, enabling access for 350 million global users. The executive team includes engineers and strategists with prior experience at Deloitte Australia, the Bank of International Settlements, Sila, and Moonpay. CFX Labs was established in 2021 by co-founder and chief executive officer Nick Cavet.