Stablecoin Startup Diameter Pay Scores $10M Series A Funding

Diameter Pay, a stablecoin payments infrastructure startup focused on expanding global access to USD, has raised $10 million in its Series A funding round. The equity round was co-led by CMT Digital and Lightspeed Faction, with additional investors including SixThirty Ventures, Stellar Development Foundation, Tech Council Ventures, Onigiri Capital, and BitRock Capital.

The startup plans to use the funds to expand its banking and payment capabilities, deepen its stablecoin and FX infrastructure, and continue investing in technology and compliance tooling for cross-border USD movement. Diameter Pay has already processed over $10 billion in payment volume year-to-date and counts some of the largest privately owned fintech companies globally among its clients.

The startup's virtual accounts allow foreign fintechs to offer USD accounts to their end customers while handling compliance and payment controls behind the scenes. These accounts can be linked to stablecoin infrastructure to move funds on-chain, making it easier for legitimate businesses to access the dollar in higher-risk markets.