Latitude Raises $35M Series A Led by Oak HC/FT as Stablecoins Meet Local Payment Rails

Latitude, the Texas-based global payments infrastructure company, has raised $35 million in Series A funding led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction and OpenFX . The round follows Latitude’s $8 million seed earlier this year and brings total funding to $43 million .

The funding represents a 4.4x increase from its seed round—rapid investor conviction in stablecoin infrastructure that connects to real-world payment systems. Latitude’s core product, Global Payouts, lets businesses send stablecoins that recipients receive in local currency through familiar methods like bank accounts and mobile wallets, without ever touching a crypto wallet .

Latitude Financials By CREDX Media

Startup	Latitude
Founders	Cyril Mathew, Brian Wrightson, Vivek Morzaria
Founded	2025
Headquarters	Texas, USA
Latest Round (Series A)	$35M
Previous Round (Seed, 2026)	$8M
Total Funding Raised	$43M
Lead Investor	Oak HC/FT
Participating Investors	NEA, Coinbase Ventures, Lightspeed Faction, OpenFX
Employees	~15
Business Model	Transaction fees on cross-border payouts (B2B infrastructure)
Category	Stablecoin Payments, Cross-Border Payments, Fintech Infrastructure
Coverage	50+ countries, licensed in 45 US markets
Key Rails	Pix (Brazil), UPI (India), SPEI (Mexico), SEPA (Europe), Faster Payments (UK)

Startup Overview: Latitude

What Latitude Is Building in Simple Words

Latitude builds payment infrastructure that connects stablecoins to local payment rails worldwide. The company solves the “last mile” problem in stablecoin payments: moving money across borders is fast with stablecoins, but getting it into a bank account or mobile wallet that someone can actually spend is slow, expensive, and often impossible outside major markets .

Here’s how it works:

1. Single API for Global Payouts

• Businesses integrate once and can send payments to 50+ countries
• Latitude handles currency conversion, compliance checks, and local delivery
• Recipients receive local currency through bank accounts, mobile wallets, or domestic payment networks

2. Stablecoin-to-Local Conversion

• Business funds payout in dollars or stablecoins
• Latitude’s network converts funds into destination currency
• Local financial partners deliver money through familiar rails

3. Licensed and Regulated

• Latitude owns the licenses, taking on compliance and regulatory work
• Currently licensed or approved in 45 US markets
• Actively pursuing direct licenses in Southeast Asia, Latin America, and Africa

4. Liquidity Partner Network

• Network of liquidity partners routes each transfer to best available price
• Fewer hops, tighter spreads, no hidden costs
• Real-time settlement in many markets, typically within minutes

5. No Crypto Wallet Required

• Recipients never need to understand stablecoins
• Money lands in currency they spend, on payment method they already have
• Removes the biggest adoption barrier for stablecoin payments

Why Latitude Matters

1. Stablecoins Solved Speed, Not Access Stablecoins are the fastest way to move money globally, but getting in and out via on-and-off ramps remains broken. Outside the US, these ramps mostly don’t exist. Where they do, they’re slow and expensive .
2. The Payout Problem Is Massive A contractor in São Paulo or Lagos can lose a meaningful chunk of their payment to fees and delays. Latitude’s CEO Cyril Mathew witnessed this firsthand at Uber, where a driver remitting wages to Morocco handed cash to a middleman who took a 20% cut .
3. Neobanks Need Infrastructure, Not Building Companies trying to build financial services apps for users across the world need ways to get in and out of stablecoins. As Mathew explained: “That neobank can try to do that in 80 countries, or they can plug into Latitude” .
4. Regulatory Foundation Is the Moat Unlike models that license third-party infrastructure, Latitude holds its own licenses directly—39 state money transmitter licenses, one state registration, and five no-action letters. Its subsidiary is registered with FinCEN and has completed SOC 2 Type I auditing .
5. Investor Conviction from Fintech and Crypto Leaders Oak HC/FT led the round, with NEA bringing traditional fintech expertise and Coinbase Ventures providing crypto-native distribution. The combination signals confidence in stablecoins as invisible settlement rails .

Our Take on Latitude

Latitude is solving the least glamorous problem in stablecoin payments—the last mile—and that’s precisely why it matters.

Stablecoins have proven they can move value across borders instantly. But the promise of cheaper, faster global payments remains unfulfilled if recipients can’t easily convert digital dollars into something they can spend. Latitude bridges that gap by owning the regulatory licenses, building local payout connections, and abstracting away all crypto complexity .

The $35 million Series A is justified on multiple fronts: 4.4x funding increase from seed, a clear regulatory moat in 45 US markets, and founder-market fit from Stripe, Uber, Coinbase, and Meta. The company’s approach—selling infrastructure rather than a consumer product—reduces adoption friction and positions it as a picks-and-shovels play in the stablecoin economy .

The real risk isn’t technical feasibility—Latitude has demonstrated production-scale payouts. The risk is competition from larger players: Circle’s Payments Network, Paxos, and Ripple offer related stablecoin-to-fiat services with bigger balance sheets and established institutional relationships. Latitude’s advantage lies in its focus on emerging market local rails and its licensed-first approach. For now, the funding gives it room to build what could become foundational infrastructure for global money movement.

Founder Background: From Uber Cash Bags to Stripe Stablecoin Payouts

Cyril Mathew (CEO) spent a decade at Uber leading international payments in Europe. A conversation with an Uber driver in London who was remitting wages to Morocco shaped his view of the problem: the driver handed cash to a middleman, lost 20% to fees, and waited days for the money to arrive .

Mathew later joined Stripe, where his team launched stablecoin payouts in 100 countries. But adoption was limited. Users in Vietnam and across Africa told him they needed local currency, bank access, and familiar payment methods—not crypto wallets and seed phrases. He realized stablecoins would have limited utility unless recipients could easily convert them into spendable local currency .

Brian Wrightson, and Vivek Morzaria, both payments veterans with experience at Stripe, Coinbase, Meta, Uber, and Zero Hash, joined Mathew to build Latitude. The three began raising the seed round in January 2025 and launched the company shortly after .

The combination—Uber’s global payments scale, Stripe’s stablecoin infrastructure experience, and Coinbase’s crypto-native knowledge—positions Latitude to navigate both traditional payment rails and blockchain-based settlement.

The Stablecoin Infrastructure Wave Nobody Expected

Latitude’s Series A comes as stablecoin infrastructure transitions from experimental to production-ready for enterprise payments.

Circle has built the largest stablecoin ecosystem with USDC, while Paxos and Ripple offer related stablecoin-to-fiat payment services. Traditional payment processors and banks are also entering the space, recognizing that stablecoins offer faster, cheaper settlement than correspondent banking .

What differentiates Latitude is its focus on emerging market local rails. The company supports Pix in Brazil, UPI in India, SPEI in Mexico, SEPA in Europe, and Faster Payments in the UK—payment methods that local recipients actually use. This “hyper-local” approach addresses the gap that global stablecoin players have struggled to fill .

Oivind Lorentzen, Partner at Oak HC/FT, captured the opportunity: “The real challenge is building the infrastructure for stablecoins that connects a global technology to the financial systems people and businesses rely on every day. Latitude has taken on that hard work from the beginning” .

Insights: Why Stablecoin Infrastructure Accelerates at This Moment

The Competitive Landscape: Latitude’s Position

Circle has the largest stablecoin balance sheet and institutional relationships but focuses on USDC issuance and broader payment network. Paxos offers stablecoin infrastructure and tokenization services with regulatory approvals. Ripple brings established cross-border payment corridors and XRP-based settlement .

Latitude’s advantages:

• Emerging market focus — handles local rails in markets where stablecoin ramps are scarce
• Licensed-first approach — owns 39 state money transmitter licenses plus FinCEN registration
• Developer-friendly API — single integration for 50+ countries
• No-wallet experience — recipients never touch crypto
• Founder-market fit — Stripe, Uber, Coinbase, Meta alumni

The Cross-Border Payments Problem

Traditional cross-border payments rely on correspondent banking through Swift, which is slow and expensive. Stablecoins offer instant settlement, but the on-and-off ramp infrastructure remains fragmented. Latitude connects these worlds by owning the conversion layer between stablecoins and local payment systems .

The Regulatory Moat

Latitude’s licensed-first strategy creates a durable advantage. As Lorentzen noted: “When you talk to these large enterprises, they want to work with players that are regulated in the U.S. because it provides a level of certainty and trust. That’s really important when you’re moving money” .

Founder Intelligence: What Founders Can Learn from Latitude

• Domain expertise compounds: Mathew’s decade at Uber and time at Stripe identified where cross-border payments break. That insight came from direct experience, not market research.
• Regulatory foundation is a moat: Latitude invested in licenses before scaling. This creates enterprise trust and barriers to competition.
• Solve the unglamorous last mile: Stablecoin speed is solved. Getting money into local bank accounts is not. Latitude focuses where the friction actually is.
• Speed signals conviction: Seed to Series A in under a year, with 4.4x funding increase, demonstrates that investors reward rapid execution.

Investor Intelligence: Why This Round Gets Premium Capital

The investor lineup reveals conviction: Oak HC/FT led the round, bringing healthcare and fintech infrastructure expertise. NEA returned as an existing investor, signaling continued confidence. Coinbase Ventures provides crypto-native distribution and strategic alignment. Lightspeed Faction and OpenFX bring additional fintech and payment infrastructure expertise .

The investor composition matters: Oak HC/FT brings regulatory and compliance experience, NEA provides global network access, Coinbase offers crypto-native distribution, and OpenFX contributes FX and liquidity relationships. This syndicate positions Latitude for expansion into additional markets and payment corridors.

The Road Ahead for Latitude

Expansion Targets

With $35M in capital and proven product-market fit, Latitude will target:

• Geographic expansion: Pursue direct licenses in Southeast Asia, Latin America, and Africa
• Team growth: Hire in compliance, engineering, legal, and sales
• Market coverage: Maintain 45 US market licenses while expanding globally
• Product development: Extend beyond payouts to additional payment workflows

Product Roadmap (Expected)

• Additional local rails: Connect to more domestic payment networks in emerging markets
• On-ramp expansion: Enable stablecoin purchases through local payment methods
• Enterprise features: Build additional compliance and reporting tools for large customers
• Direct licensing: Obtain regulatory approvals in key expansion markets

Competitive Response

Expect:

• Circle, Paxos, and Ripple to deepen local rail coverage
• Traditional payment processors to acquire or build stablecoin infrastructure
• New startups targeting specific corridors or regions
• Latitude’s moat: licensed-first approach + emerging market focus + Stripe/Uber founder pedigree

Conclusion

Latitude’s $35 million Series A at $43 million total funding validates stablecoin infrastructure’s expansion into local payment rails worldwide. The company’s 4.4x funding increase from seed reflects both technical execution and enterprise traction—45 US market licenses, 50+ country coverage, and a founding team from Stripe, Uber, Coinbase, and Meta.

Market tailwinds favor Latitude: broken cross-border ramps, fragmented local payment systems, and enterprise demand for regulated infrastructure. The company’s licensed-first approach and hyper-local rail coverage position it to capture the last mile of stablecoin payments.

For deep analysis of stablecoin infrastructure funding, cross-border payment innovation, and companies reshaping global money movement, explore CREDX Media for comprehensive coverage of startup funding trends, valuation intelligence, and founder playbooks.

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Frequently Asked Questions

1. What is Latitude’s total funding and latest round size?
Latitude has raised $43 million in total funding across two rounds. Its $35 million Series A was led by Oak HC/FT in September 2026, following an $8 million seed round earlier in 2026.

2. How much did Latitude raise in its Series A round and who led the investment?
Latitude raised $35 million in Series A funding led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction, OpenFX, and Wilson Sonsini.

3. What was Latitude’s seed round size and how did the Series A compare?
Latitude raised $8 million in seed funding in early 2026, making the $35 million Series A a 4.4x increase in round size within the same year.

4. How much total funding has Latitude raised since its founding?
Latitude has raised $43 million total across its seed and Series A rounds since launching in 2025, with backing from Oak HC/FT, NEA, Coinbase Ventures, and others.

5. Who are the major investors in Latitude’s funding rounds?
Major investors include Oak HC/FT (Series A lead), NEA, Coinbase Ventures, Lightspeed Faction, OpenFX, Paxos, Solana Foundation, and Wilson Sonsini.

6. What is the valuation of Latitude?
Latitude’s exact post-money valuation has not been publicly disclosed. CEO Cyril Mathew declined to share the valuation in interviews, but the 4.4x round-size increase signals strong investor conviction.

7. How does Latitude generate revenue and what is its business model?
Latitude operates a B2B infrastructure model, charging transaction fees on cross-border payouts. The company advertises a 0.5% fee with settlements in many markets completing within minutes.

8. What is Latitude’s competitive differentiation in stablecoin payments?
Latitude owns its regulatory licenses (39 state money transmitter licenses, FinCEN registration) rather than licensing third-party infrastructure, and focuses on emerging market local rails like Pix, UPI, and SPEI.

9. What are Latitude’s plans for the $35 million Series A capital?
Latitude will hire in compliance, engineering, legal, and sales, while pursuing direct regulatory licenses in Southeast Asia, Latin America, and Africa to expand beyond its 45 US markets.

10. How does Latitude’s technology work for cross-border payments?
Businesses fund payouts in dollars or stablecoins, Latitude checks compliance and converts funds to destination currency, then local partners deliver money through bank accounts or mobile wallets.

11. Who are Latitude’s founders and what is their background?
Latitude was founded by Cyril Mathew, Brian Wrightson, and Vivek Morzaria, payments veterans with experience at Stripe, Uber, Coinbase, Meta, and Zero Hash.