Sending stablecoins across borders takes seconds. Converting them into pesos, naira, or rupees that someone can actually spend? That part still feels like 2015. Latitude, a payments infrastructure startup, just raised $35 million in Series A funding to fix exactly that gap.
The round was led by Oak HC/FT, with participation from Coinbase Ventures and other strategic investors. Combined with an $8 million seed round earlier in 2026, Latitude has now pulled in $43 million total to build regulated on- and off-ramps connecting stablecoins to local payment methods.
The last mile problem nobody solved
Latitude’s pitch is a single API that handles the entire conversion process. Businesses send stablecoins in, and the platform disburses funds in local currencies via bank accounts and mobile wallets. Recipients never touch crypto wallets or manage blockchain-native assets.
A founding team built for this specific problem
Latitude’s co-founders bring a very specific combination of experience to the table. CEO Cyril Mathew previously worked at both Stripe and Uber. Co-founders Brian Wrightson and Vivek Morzaria round out the leadership, with the broader founding team drawing from stints at Coinbase and Meta.
The company currently operates across 45 US markets with a lean 15-person team spread across New York, San Francisco, and London. Oak HC/FT partner Oivind Lorentzen specifically highlighted Latitude’s early investment in regulatory groundwork as a key factor in leading the round.
Where the money goes
The $35 million will fund hiring across compliance, engineering, legal, and sales teams. It will also support global licensing efforts as Latitude pushes into Southeast Asia, Latin America, and Africa.
Latitude isn’t the only company chasing this opportunity. Players like Bridge, which was acquired by Stripe in late 2024, and various stablecoin-focused fintechs have been building similar infrastructure.
What this means for the stablecoin payments landscape
Rather than competing with the big payment processors on consumer-facing products, Latitude is positioning itself as infrastructure that other businesses plug into. The single-API approach means that a payroll company, a marketplace platform, or a remittance service can add stablecoin-powered local currency payouts without building the regulatory and banking relationships themselves.
The participation of Coinbase Ventures is worth noting. Coinbase has been increasingly active in backing infrastructure companies that expand the practical utility of stablecoins beyond trading. Given that Coinbase is also the co-issuer of USDC alongside Circle, there’s a natural alignment in supporting companies that increase the volume of stablecoin transactions flowing through real-world payment use cases.