Latitude raises $35 million in Series A for stablecoin payments expansion

Stablecoin payments infrastructure firm Latitude has completed a $35 million Series A round led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction and OpenFX. Latitude, co-founded by former executives from Stripe, Uber, Coinbase and Meta, is building infrastructure that helps businesses send fiat in local currencies to users in emerging markets using stablecoins. The company has secured licenses across 45 U.S. markets and plans to expand related licensing into Southeast Asia, Latin America and Africa. Latitude, which currently has 15 employees, said it will use the funding to expand its compliance, engineering and sales teams and accelerate the buildout of its global payments network.