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Cross-border payment startup Latitude recently successfully raised $8 million. The funding round was led by well-known venture capital firm NEA, with a prestigious lineup of participants including Lightspeed Faction, Coinbase, Paxos, and the Solana Foundation.
Latitude's core business focuses on global payment solutions. The platform uses stablecoins as an intermediary to help U.S. companies initiate transfers to payees in over 50 countries worldwide. The system automatically handles the conversion process from USD to stablecoins and then to local fiat currencies.
The founding team has a strong background, with three members previously working at industry giants such as Uber, Meta, Coinbase, and Stripe. They plan to leverage their deep expertise in payments and crypto to further optimize the efficiency of cross-border fund flows.