Latitude has raised a $35 million Series A to expand the infrastructure that converts stablecoin settlement into domestic payouts, a part of the payment flow that still depends on banks and local payment schemes. The round was led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction and OpenFX.

The company said the new capital will go toward licences and local payout connections. Latitude’s pitch is that it owns the regulatory permissions behind its network rather than relying on third-party providers, arguing that this control is a core part of what customers are paying for.

Funding follows earlier seed round

The Series A comes after an $8 million seed round earlier in 2026, bringing Latitude’s total funding to $43 million. The company was founded by Cyril Mathew, Brian Wrightson and Vivek Morzaria, whose previous roles include positions at Stripe, Coinbase, Meta, Uber and Zero Hash.

Latitude is focused on the final domestic leg of stablecoin payments, where funds move from onchain settlement into local banking and payment systems. That conversion layer remains one of the more operationally demanding parts of cross-border stablecoin use, and the company says the fresh funding will be directed at strengthening that foundation.

Licences and registrations are central to the model

Latitude said it currently holds 39 money transmission licences, one state registration and five no-action letters. It also said Latitude Payments Inc. is registered with FinCEN as a money services business.

According to the company, holding these permissions directly is a defining feature of its service. Rather than renting regulatory coverage from another provider, Latitude says it has built its own licensing base to support stablecoin-linked payouts at scale.

Current and beta payout markets

On its website, Latitude lists live payout coverage in Argentina, Brazil, Colombia, Mexico, the Philippines, India and most European countries. It also lists Chile, Ecuador, Peru, Uruguay, Thailand, Vietnam and several African countries as being in beta.

Those market listings indicate where the company says it has already established or is testing local payout connectivity. The expansion underscores the company’s emphasis on domestic rails, not just stablecoin settlement itself.

Operational milestones and next steps

Latitude said a SOC 2 Type I audit has been completed, while a Type II audit is targeted for the fourth quarter. Those compliance and control milestones sit alongside the licensing buildout that the company says is needed to run a payout network across multiple jurisdictions.

In a statement included with the announcement, Oak HC/FT partner Oivind Lorentzen said Latitude had done the difficult work early by building the regulatory and local connectivity needed to operate at scale. The next confirmed steps from the company are continued investment in licences and payout links as it extends the network into more markets.

Source: thedefiant.io