CFX

CFX Labs is a Chicago-based fintech company building dollar infrastructure for global businesses. Operating under the tagline "Digital dollars for global business," CFX sits at the intersection of traditional financial compliance and stablecoin rails, offering U.S.-regulated payment and treasury tools to companies that need to move, hold, and deploy USD across borders.

MoveUSD: A Regulated Dollar on Solana

The flagship product is MoveUSD, a 1:1 USD-backed stablecoin that launched on Solana. Each MoveUSD token is fully collateralized by U.S. dollars, making it a straightforward dollar substitute for businesses operating in high-volatility currency environments or seeking programmable payment infrastructure.

Solana was the deliberate choice for MoveUSD's initial deployment. Solana's low transaction fees, high throughput, and settlement speed make it well-suited for payment-oriented stablecoins where transaction cost and finality time directly affect the economics of cross-border transfers and business payouts. Building on Solana first positioned MoveUSD as a practical payments instrument from day one rather than a speculative asset.

On July 30, 2025, CFX Labs expanded MoveUSD to Ethereum and Base through Wormhole's Native Token Transfer (NTT) protocol. NTT uses a burn-and-mint model that preserves a unified token supply across all chains — tokens burned on one chain are minted on the destination chain, preventing supply fragmentation. Solana remains the origin chain, and MoveUSD retains its Solana roots even as liquidity flows across the multichain landscape.

The Product Suite

CFX Labs has built a suite of complementary products around MoveUSD:

MoveMoney is an embedded wallet product that lets businesses integrate USD payment capabilities directly into their own applications. Rather than building payment infrastructure from scratch, companies can embed MoveUSD-denominated wallets to send, receive, and hold digital dollars natively within their platforms.

Liquid Treasury provides T-Bill yield on USD balances held within the CFX ecosystem. Businesses that hold idle dollar balances can earn yield backed by short-term U.S. government securities, giving corporate treasury teams a reason to keep operational capital on-platform rather than cycling it out.

Payouts infrastructure connects MoveUSD to real-world disbursement networks, covering more than 220 markets globally. Whether a business needs to pay a contractor in Latin America or settle an invoice across Southeast Asia, CFX's payout rails route dollars to destination currencies and banking networks at scale.

Cash Loading rounds out the access layer, with the ability to load physical cash at more than 80,000 U.S. retail locations. This on-ramp capability brings MoveUSD within reach of users who operate largely in cash, bridging physical dollar handling with on-chain stablecoin infrastructure.

Regulatory Standing

CFX Labs holds the registrations that matter for U.S.-regulated money transmission. The company is a registered Money Services Business (MSB #31000284640857) and holds NMLS registration #2383683. These credentials position CFX to serve business clients who require their payment partners to operate within the U.S. regulatory perimeter — a non-negotiable requirement for many enterprise and institutional customers.

CFX has also aligned its stablecoin operations with the GENIUS Act framework, the legislative standard that has emerged around regulated stablecoin issuance in the United States. This alignment signals that MoveUSD is designed for the compliance-first environment that enterprise stablecoin users increasingly demand.

With offices in Chicago, Mexico City, and Sao Paulo, CFX's geographic footprint reflects its target market: businesses operating across the Americas where dollar access, cross-border payment friction, and local currency volatility are live operational problems.

Team

CFX Labs was co-founded by Nick Cavet, who serves as CEO, and Ben Ng, who leads engineering as VP Engineering. The team's combination of fintech product experience and blockchain engineering reflects the company's positioning as a bridge between regulated financial services and on-chain infrastructure.

Funding

In November 2023, CFX Labs closed an oversubscribed $9.5 million seed round, drawing participation from a broad group of crypto-native and fintech investors. The round included Shima Capital, Decasonic, Antalpha, CMT Digital, Corazon Capital, Hard Yaka, Kraken Ventures, New Form Capital, and Metropolitan Capital Bank and Trust. The oversubscription and the mix of institutional crypto funds alongside a traditional bank suggests both market confidence in the regulated stablecoin thesis and a strategic interest from banking infrastructure in on-chain dollar rails.

Solana Ecosystem Fit

CFX Labs represents a maturing category within the Solana ecosystem: regulated, compliance-first stablecoin infrastructure aimed at business use cases rather than DeFi speculation. MoveUSD's original deployment on Solana made the network the foundation of a commercially viable payments product serving real-world business needs — payroll, treasury management, cross-border supplier payments, and embedded fintech features.

The expansion to Ethereum and Base via Wormhole NTT doesn't displace Solana's role; it extends the reach of MoveUSD to where institutional and developer demand exists on other chains, while the burn-and-mint architecture keeps supply accountable back to the origin. For Solana, CFX Labs adds a regulated stablecoin issuer with real compliance credentials, a funded balance sheet, and enterprise distribution channels — the kind of infrastructure that makes Solana a credible platform for business-grade financial applications.