Latitude Raises $35M Series A for Global Stablecoin Payouts

Latitude, a fintech innovator focused on streamlining international disbursements, has successfully closed a $35 million Series A funding round. The significant capital infusion was spearheaded by Oak HC/FT, with crucial participation from prominent investors including NEA, Coinbase, Lightspeed Faction, and OpenFX. This latest funding follows an earlier $8 million seed round earlier this year, bringing the company's total raised capital to $43 million. The company aims to bridge the gap between the speed of stablecoin transactions and the necessity of local currency payouts for businesses operating globally.

The core challenge Latitude addresses is the friction in converting digital assets into usable local currency for recipients. While stablecoins offer unparalleled speed for cross-border transfers, the integration with existing, often fragmented, local payment systems—such as Brazil's Pix, India's UPI, or mobile money in Kenya—remains a significant hurdle. Latitude's platform provides a unified, compliant solution, enabling businesses to bypass the complexities of building individual integrations for each market. This allows for near-instantaneous payouts directly into recipients' bank accounts or preferred local payment methods, eliminating the need for end-users to manage cryptocurrency wallets.

“The ambition is to make global money movement as effortless as sending a text message,” stated Cyril Mathew, co-founder and CEO of Latitude. “Our focus is on abstracting away the complexities of stablecoins and local payment rails, allowing businesses to concentrate on their core operations. We are building the essential plumbing that connects global digital finance to everyday economic activity.” The company emphasizes its strategy of securing necessary licenses and managing regulatory compliance, thereby offering clients a simplified pathway to expand their payment capabilities into new territories.

Latitude's operational model hinges on its extensive network of licensed entities and liquidity partners across numerous jurisdictions. This infrastructure facilitates direct connections to local payment networks, ensuring efficient and cost-effective conversion of stablecoins into local currencies. The company highlights its growing global footprint, with operational approvals in 45 U.S. markets and active expansion efforts internationally. This approach positions Latitude as a foundational layer for businesses seeking to scale their global payment operations without the burden of navigating diverse regulatory and technical landscapes independently.

The market for cross-border payments is substantial, with estimates suggesting it could reach trillions of dollars annually. Fintech solutions that simplify these transactions are in high demand, particularly as businesses increasingly operate with distributed workforces and global customer bases. Latitude's model, which leverages stablecoins for settlement and local rails for payout, taps into the growing digital asset ecosystem while addressing the practical needs of everyday commerce. This Series A funding is expected to accelerate Latitude's product development and market penetration, further solidifying its role in the evolving global payments infrastructure.

The founding team brings a wealth of experience from leading technology and finance firms, including Stripe, Coinbase, Meta, Uber, and Zero Hash. This deep expertise in payments, compliance, and global infrastructure development underpins Latitude's strategic approach. As noted by Oivind Lorentzen, Partner at Oak HC/FT, “Latitude is tackling the critical challenge of building the necessary infrastructure to connect global stablecoin technology with the everyday financial systems used by people and businesses. Their commitment to establishing a robust regulatory foundation and local connectivity is key to operating at scale.”