Stablecoin Payment Infrastructure Latitude Completes $35M Series A Funding

ChainCatcher report: Stablecoin payment infrastructure provider Latitude has announced the completion of a $35 million Series A round led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction, and OpenFX. This round follows an $8 million seed round earlier this year, bringing total funding to $43 million. Latitude was co-founded by Cyril Mathew, Brian Wrightson, and Vivek Morzaria, all of whom previously worked at Stripe, Coinbase, Meta, Uber, and Zero Hash. Latitude aims to connect stablecoin settlements directly to local payment channels, addressing the “last mile” of stablecoin payments that still rely on banks and local clearing systems. Unlike models that license third-party infrastructure, Latitude holds its own licenses directly—it currently possesses money transmitter licenses in 39 U.S. states, one state registration, and five no-action letters. Its subsidiary, Latitude Payments Inc., is registered with FinCEN as a money services business and has completed SOC 2 Type I auditing. Latitude currently offers real-time payment markets in Argentina, Brazil, Colombia, Mexico, the Philippines, India, and most European countries, with Chile, Ecuador, Peru, Uruguay, Thailand, Vietnam, and several African nations in testing. Co-founder and CEO Cyril Mathew said: “You shouldn’t need to understand stablecoins to use them.”