ChainCatcher report, according to Fortune, stablecoin cross-border payment company Latitude has 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 such as 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.
Stablecoin cross-border payment firm Latitude completes an $8M funding round led by NEA.
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Summary
Project funding news: Stablecoin cross-border payment company Latitude has closed an $8 million funding round led by NEA, with participation from Coinbase, Paxos, and the Solana Foundation. The company’s platform enables U.S. businesses to send payments to over 50 countries by converting USD to stablecoins and then to local fiat. Three co-founders with backgrounds at Uber, Meta, and Stripe highlighted the need for faster global capital movement. Crypto news continues to underscore growing interest in payment infrastructure innovation.
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