Latitude Raises $35M in Series A Funding to Bridge Stablecoin Payments
Latitude, a payments infrastructure startup, has raised $35 million in Series A funding to build regulated on- and off-ramps connecting stablecoins to local payment methods. The round was led by Oak HC/FT, with participation from Coinbase Ventures and other strategic investors. This brings the total amount of funding for Latitude to $43 million.
The company'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.
Latitude's co-founders bring a very specific combination of experience to the table. CEO Cyril Mathew previously worked at both Stripe and Uber. The company currently operates across 45 US markets with a lean 15-person team spread across New York, San Francisco, and London.
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.