A trio of former executives from Stripe, Coinbase, and Uber has secured $35 million to tackle what many in crypto consider the industry's thorniest infrastructure problem: getting stablecoins to work with the payment systems ordinary people actually use.
Latitude, a startup that connects dollar-pegged digital tokens to local payment networks across Brazil, India, Kenya, and dozens of other markets, closed the Series A round on September 9 with backing from Oak HC/FT and a roster of investors that includes NEA, Coinbase Ventures, and Lightspeed Faction. The financing brings the company's total raised to $43 million, following an $8 million seed round that closed earlier in 2026.
The business addresses a gap that has frustrated crypto optimists and skeptics alike. Stablecoins can move across borders cheaply and quickly, but converting them into local currency through familiar channels remains clunky. Latitude's platform offers a single API that allows companies to settle transactions in stablecoins and then distribute funds through country-specific rails like Brazil's Pix system, India's UPI network, or mobile money services in East Africa.
"The real challenge in stablecoin adoption isn't the technology itself," said Øivind Lorentzen, a partner at Oak HC/FT who led the round. "It's building the infrastructure that connects a global technology to the financial systems people and businesses rely on every day."
CEO Cyril Mathew, who co-founded the company with Brian Wrightson and Vivek Morzaria, spent years watching cross-border payment friction at close range. The three founders logged time at companies that grapple with moving money internationally, including stints at Stripe, Meta, and Zero Hash. That experience left them convinced the solution required bridging two worlds: the programmable rails of crypto and the entrenched but essential local networks that already serve billions.
"Moving money should be as simple as sending a message," Mathew said. "We built Latitude so a business can move money in and out of any market and have it just work."
The claim invites scrutiny. Payment infrastructure is notoriously complex, shaped by local regulation, banking relationships, and legacy technology. Latitude says it holds licenses or approvals to operate in 45 U.S. states and is pursuing permissions in international markets, though the company declined to specify which jurisdictions or how far along those applications stand.
It also declined to share customer numbers, transaction volumes, or the valuation attached to the Series A. That opacity is common in early-stage fintech, where companies prefer to lead with product vision rather than traction data that might underwhelm.
The new capital will go toward expanding headcount in compliance, legal, engineering, and sales, according to a report in Fortune published September 9. Latitude also plans to add more local payout options and on-ramp providers to its network, though the company did not detail specific countries or partnerships in its announcement.
The funding arrives as stablecoin infrastructure attracts renewed attention from both venture investors and traditional financial institutions. Skeptics point to regulatory uncertainty and the sector's uneven track record. Believers argue the technology has matured past its speculative phase and now solves real problems for remittances, cross-border commerce, and treasury management.
Latitude's bet is that businesses care less about crypto ideology than they do about whether payments arrive on time and in the right currency. Whether that pragmatic pitch can navigate the licensing gauntlet and win over corporate treasurers remains an open question, though $43 million in backing suggests at least some investors think the odds are improving.
