Diameter Pay Secures $10M in Series A Funding to Bolster Cross-Border Payments

Diameter Pay, an embedded payments company that has quietly processed billions in cross-border transfers for banks, has secured $10 million in Series A funding. The round was co-led by CMT Digital and Lightspeed Faction, two firms with deep roots in blockchain infrastructure.

The milestone marks a significant inflection point for Diameter Pay, which started life as a college project at MIT in 2017. To date, the company has processed over $10 billion in regulated payments and now wants to add virtual currency corridors to its toolkit.

CMT Digital, one of the round's co-leads, has a portfolio that includes Circle, the issuer of the USDC stablecoin. Lightspeed Faction, the other co-lead, recently closed a $285 million inaugural fund dedicated to early-stage blockchain infrastructure.