Latitude announces completion of $8 million funding round, led by NEA

Golden Finance reports that, on March 31, according to Fortune magazine, the stablecoin cross-border payments company Latitude announced that it has completed $8 million in funding, led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and the Solana Foundation. Latitude’s main product is the so-called Global Payments, which allows U.S. businesses to make payments to individuals in more than 50 countries. When a U.S. company sends dollars through Latitude, the startup’s network first converts the dollars into stablecoins and then converts them into the recipient’s local currency. The three co-founders previously worked at companies such as Uber, Coinbase, Meta, and Stripe. They said that their experience in crypto, technology, and payments made them realize the importance of efficient global capital flows.