Latitude Raises $35 Million Series A to Link Stablecoin Payments With Local Payment Rails

Latitude has raised a $35 million Series A led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction, OpenFX and Wilson Sonsini. For PSPs and high-risk operators, the point is not the stablecoin transfer itself; it is the on- and off-ramp problem, and Latitude is pitching itself as the licensed layer that connects stablecoins to local payment methods.

1. Latitude says it simplifies cross-border money movement by letting businesses move between local currency and stablecoins in the markets where they operate. The company says that matters because money still has to arrive in the currency people actually spend, through rails they already use.
2. The company’s examples are local rather than abstract: Pix in Brazil, UPI in India, and mobile money in Kenya. Outside the US, Latitude says these ramps mostly do not exist; where they do exist, they are slow and expensive.
3. Latitude says a neobank can expand into a new country by turning on a compliant ramp instead of building one, and a contractor in São Paulo or Lagos can get paid in seconds in local currency. The company also says it owns the licenses and handles compliance and regulatory work, so customers can focus on building the product layer.
4. The round follows Latitude’s $8 million seed earlier this year and brings total funding to $43 million. The company’s CEO, Cyril Mathew, framed the product as infrastructure: “The hard part should be your product, not the plumbing underneath it.”

For payment providers and banking partners serving high-risk verticals, this is the part of the stablecoin stack that tends to matter most: not the token rail itself, but the licensed access points that get value in and out of local payment systems without every customer having to build the compliance machine from scratch.