Latitude, a global payments infrastructure startup, is developing technology that connects stablecoins with the local payment systems people already use. Founded by Cyril Mathew, Brian Wrightson and Vivek Morzaria, the company helps businesses move money across borders without requiring recipients to understand or hold cryptocurrency. The focus is on making the transfer process simpler.
Stablecoins are becoming more closely connected with mainstream payments. Visa said in a 2026 analysis that stablecoins have increasingly become a normalized part of money movement, with cross border transfers emerging as one of their main commercial uses. The company also described 2026 as a pivotal year for financial institutions developing stablecoin strategies as market infrastructure and regulatory frameworks mature. That puts payment infrastructure under closer attention.
Latitude has raised $35 million in a Series A led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction and OpenFX. The financing follows an $8 million seed round announced earlier in 2026 and brings the company's total funding to $43 million.
"Moving money should be as simple as sending a message," said Cyril Mathew, co-founder and CEO of Latitude. "You shouldn't need to understand stablecoins to use them. We built Latitude so a business can move money in and out of any market and have it just work. The hard part should be your product, not the plumbing underneath it."
Stablecoins are cryptocurrencies designed to keep a relatively stable value, usually by being tied to an asset such as the US dollar. They can move quickly between digital networks, but businesses still need a way to convert those funds into currencies and payment methods that people can actually use. That conversion remains a practical requirement.
This process relies on what the industry calls on ramps and off ramps. An on ramp converts traditional money into stablecoins, while an off ramp changes stablecoins back into local currency. Latitude says its infrastructure connects stablecoins with local payment rails, meaning the systems used to send and receive money within individual markets. The goal is straightforward local access.
The company cites Pix in Brazil, UPI in India and mobile money in Kenya as examples of payment methods people use in different countries. According to Latitude, recipients such as contractors, sellers and employees can receive local currency without needing a crypto wallet. They receive money through familiar systems.
Other payment companies are expanding similar infrastructure. Stripe said at its 2026 Sessions conference that it planned to extend stablecoin payment acceptance to customers in 33 additional countries and introduce stablecoin backed card issuance in 60 countries. The plans show how payment providers are connecting blockchain based settlement with products people already know how to use. Stablecoins are moving closer to everyday payments.
“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,” said Oivind Lorentzen, Partner at Oak HC/FT. “Latitude has taken on that hard work from the beginning, building the regulatory foundation and local connectivity required to operate at scale. We believe they have the potential to become a foundational part of how money moves around the world.”
Latitude has not provided a detailed breakdown of how the new $35 million will be spent. Its stated priorities include expanding international licensing, adding more local currency connections and continuing to broaden the network available through its API. The company is pursuing wider geographic coverage.
Latitude is currently licensed or approved to operate in 45 US markets and says it is seeking additional licenses internationally. It also works with liquidity partners and venues in individual markets to route transfers and convert between stablecoins and local currencies. Those connections sit behind each payment.
The company wants to make these local payment connections available through a single integration rather than requiring businesses to build separate infrastructure for every country. This approach is partly aimed at fintech companies expanding internationally. A neobank entering a new market, for example, could connect to Latitude instead of establishing its own stablecoin conversion, liquidity and compliance systems there. That reduces the systems it must build.
Latitude was founded in 2025 by Mathew, Wrightson and Morzaria and emerged publicly in 2026 after operating in stealth. Its founders previously worked in payments and financial infrastructure at companies including Stripe, Coinbase, Meta, Uber and Zero Hash. Their backgrounds are concentrated in financial technology.
The company's infrastructure combines stablecoin settlement with local banking and payment rails. In simple terms, a business can send money through Latitude while the recipient receives it through a familiar local method and in the currency they normally use. Latitude manages the stablecoin conversion and the underlying infrastructure, so the recipient does not need to manage digital assets directly. The crypto component stays in the background.
Latitude offers global fiat payouts as well as international stablecoin on ramps and off ramps for fintech companies, exchanges and neobanks. Its website lists payment coverage across markets in Latin America, Europe, Asia Pacific, the Middle East and Africa. The company also says its customers include payroll platforms, marketplaces, fintechs and wallets operating across more than 50 countries. Its service is already used internationally.
The Series A brings Latitude's reported funding to $43 million. Its earlier $8 million seed round was led by NEA and included investors such as Lightspeed Faction, Coinbase Ventures, Paxos and Solana Foundation. That financing was disclosed when Latitude emerged from stealth earlier in 2026. The company has now raised twice this year.
Oak HC/FT led the new $35 million round, while NEA, Coinbase, Lightspeed Faction and OpenFX participated. Wilson Sonsini Goodrich & Rosati served as legal adviser to Latitude on the transaction. Several existing investors returned for the Series A.
