Stablecoin payment company Latitude completes $35 million Series A funding round, with Lightspeed Faction and others participating

According to Fortune, stablecoin payment infrastructure company Latitude, founded by former employees of Stripe, Uber, Coinbase, and Meta, has announced the completion of a $35 million Series A funding round, led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction, and OpenFX. Latitude aims to address the "last mile" challenge following cross-border stablecoin payments by providing enterprises with infrastructure that converts stablecoins into local currencies and facilitates fund disbursement through local payment methods such as bank accounts and mobile wallets. Its current clients span digital banks, payroll platforms, e-commerce marketplaces, and financial institutions. The company previously closed an $8 million seed round. The new capital will be used to scale its compliance, engineering, legal, and sales teams, while accelerating efforts to secure regulatory licenses in markets including Southeast Asia, Latin America, and Africa.