Latitude Completes $8M Funding Round Led by NEA

Huo Xing Cai Jing reports that on March 31, according to Fortune magazine, stablecoin cross-border payment company Latitude announced the completion of an $8 million funding round led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and the Solana Foundation. Latitude’s flagship product, Global Payments, enables U.S. businesses to make payments to individuals in over 50 countries. When a U.S. company sends U.S. dollars through Latitude, the company’s network first converts the dollars into a stablecoin and then into the recipient’s local currency. The three co-founders previously worked at companies including Uber, Coinbase, Meta, and Stripe. They say their experience in crypto, technology, and payments led them to recognize the importance of efficient global fund flows.