Cross-border stablecoin payments infrastructure company Latitude has raised $35 million in a Series A round led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction and OpenFX. According to Fortune, the company was founded by former executives from Stripe, Uber, Coinbase and Meta. Its product is built to help businesses use stablecoins to send fiat to users in emerging markets through local payout methods such as bank accounts and mobile wallets. Latitude said it is already licensed in 45 U.S. markets and plans to expand its regulatory licenses across Southeast Asia, Latin America and Africa. The company currently has a 15-person team, and the new capital will be used to grow its compliance, engineering and sales staff.
Latitude, a cross-border stablecoin payments infrastructure company, has raised $35 million in a Series A round led by Oak HC/FT, with NEA, Coinbase, Lightspeed Faction and OpenFX also participating.
According to Fortune, the company was founded by former executives from Stripe, Uber, Coinbase and Meta. Latitude is building tools that help businesses use stablecoins to send fiat to users in emerging markets through local payout rails, including bank accounts and mobile wallets.
The company is already licensed in 45 U.S. markets and plans to expand its regulatory licenses into Southeast Asia, Latin America and Africa. Latitude currently has a team of 15, and it said the new funding will be used to add staff across compliance, engineering and sales.
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