Latitude Secures $35M Series A to Scale Global Stablecoin Infrastructure

Latitude has secured $35 million in Series A funding to address the friction in cross-border stablecoin on- and off-ramps. For fintech professionals, this represents a significant push toward making blockchain-based liquidity as accessible as local payment rails like Pix or UPI, potentially removing the regulatory and technical hurdles currently slowing global money movement.

What was announced

Latitude, a global payments infrastructure firm, has announced a $35 million Series A funding round led by Oak HC/FT. The investment round included participation from NEA, Coinbase Ventures, Lightspeed Faction, OpenFX, and Wilson Sonsini. This latest capital injection follows an $8 million seed round completed earlier this year, bringing the company’s total funding to $43 million.

The platform is designed to simplify the movement between local currencies and stablecoins, targeting businesses that operate across international borders. Latitude provides a single API that connects stablecoin settlement directly to hyper-local payment rails, such as Pix in Brazil, UPI in India, and mobile money in Kenya. This infrastructure is intended for use by neobanks, payroll platforms, marketplaces, and fintech wallets that require instant, compliant money movement without the need to build individual ramps for every market.

A key component of the Latitude offering is its regulatory layer. The company is currently licensed or approved to operate in 45 US markets and is actively pursuing additional international licenses. By owning these licenses and managing the underlying compliance work, Latitude allows its clients to focus on product development rather than the "plumbing" of financial regulation. The network utilizes liquidity partners and venues in various markets to route transfers at the best available price, aiming to reduce spreads and eliminate hidden costs. Currently, Latitude serves businesses in more than 50 countries, including Velo CFO, which utilizes the platform for rapid payments to the Philippines.

"Moving money should be as simple as sending a message," said Cyril Mathew, co-founder and CEO of Latitude. "You shouldn't need to understand stablecoins to use them. We built Latitude so a business can move money in and out of any market and have it just work. The hard part should be your product, not the plumbing underneath it."

Cyril Mathew, co-founder and CEO of Latitude.

The companies involved

Latitude was established by a founding team with extensive backgrounds in financial technology and global infrastructure. Cyril Mathew, the company's co-founder and CEO, is joined by CTO Brian Wrightson and co-founder Vivek Morzaria. Before launching Latitude, the founders held leadership positions at several of the industry's most prominent firms, including Stripe, Coinbase, Meta, Uber, and Zero Hash. This collective experience in navigating the regulatory and technical hurdles of global commerce is central to Latitude's market position.

Lead investor Oak HC/FT is a venture capital firm that specializes in the healthcare and financial services sectors. The firm typically backs companies that provide foundational infrastructure for the modern economy. Joining them in this round is NEA (New Enterprise Associates), a long-standing venture firm with a broad portfolio in technology. Coinbase Ventures, the investment arm of the major US-based cryptocurrency exchange, also participated, reflecting the company's focus on the stablecoin ecosystem. Lightspeed Faction and OpenFX, an institutional foreign exchange provider, further round out the investor group. These companies represent a mix of traditional venture capital and specialized digital asset expertise, supporting Latitude’s goal of bridging the gap between legacy financial systems and blockchain-based settlement.

What this means

The stablecoin market is shifting from a speculative asset class to a functional settlement layer, but the "last mile" remains a bottleneck. Latitude’s focus on the regulatory and licensing side of on-and-off ramps puts pressure on traditional correspondent banking networks that have long profited from slow, high-fee cross-border transfers. By abstracting the complexity of blockchain, the industry is moving toward a future where the underlying rails are invisible to the end-user. The challenge for the sector now lies in maintaining this speed while navigating a fragmented global regulatory landscape, particularly as more jurisdictions move to codify stablecoin frameworks.