Latitude, a payments infrastructure company that turns stablecoin transfers into local-currency payouts, announced on 9 September 2026 that it had raised a $35m Series A round.
Oak HC/FT led the round. NEA, Coinbase Ventures, Lightspeed Faction, OpenFX and Wilson Sonsini also took part, according to the company's press release. Latitude did not disclose a valuation.
The round follows an $8m seed raised earlier in 2026 and brings Latitude's total funding to $43m.
“Moving money should be as simple as sending a message. You shouldn’t need to understand stablecoins to use them.”Cyril Mathew, Co-founder and CEO, Latitude
What Latitude does
Latitude settles payments in stablecoins and delivers them through the local payment systems recipients already use, such as Pix in Brazil, UPI in India and mobile money in Kenya. The recipient receives money in their own currency and does not need a crypto wallet. Businesses connect to the service through a single API.
The company argues that while stablecoins move money quickly, converting them to and from ordinary currency is the hard part. Outside the US, it said, on- and off-ramps are often missing, and where they do exist they tend to be slow and expensive. Latitude handles licensing and compliance itself, so that customers can concentrate on their own products, and routes each transfer through a network of liquidity partners in search of the best available price.
Its customers include payroll platforms, marketplaces, fintechs and wallet providers, and the company said it serves customers in more than 50 countries. Among the use cases it described were neobanks entering a new country without building their own ramp, and freelancers in cities such as São Paulo or Lagos being paid in local currency within seconds. David Morgan, partner and head of accounting at Velo CFO, said payments his firm sends reach local bank accounts in the Philippines within minutes and with lower fees.
Co-founder and chief executive Cyril Mathew said users should not need to understand stablecoins in order to use them. He founded the company with Brian Wrightson and Vivek Morzaria. The founders previously held leadership roles at Stripe, Coinbase, Meta, Uber and Zero Hash.
Licences and investors
Latitude said it is licensed or approved to operate in 45 US markets. The Defiant reported that this figure is made up of 39 money transmission licences, one state registration and five no-action letters. The company said it is also pursuing licences outside the US.
Oivind Lorentzen, a partner at Oak HC/FT, said the real challenge with stablecoins is building the infrastructure that connects them to the way money moves around the world, and that Latitude could become a foundational part of that system. Crypto Briefing reported that he pointed to the company's early work on regulatory groundwork as a reason for the investment.
What the money is for
According to Crypto Briefing, Latitude will use the funding to hire across compliance, engineering, legal and sales, and to pursue licences as it expands into Southeast Asia, Latin America and Africa.
The company runs a team of about 15 people spread across New York, San Francisco and London, Crypto Briefing reported. The press release did not give a headquarters city or a founding year.
Company website: latitude.xyz