Oak HC/FT Leads $35M Series A for Stablecoin Startup Latitude
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Latitude has closed a $35 million Series A to grow its cross-border payments infrastructure, which ties stablecoin settlement to local payment rails so businesses can send and receive money in local currencies without asking recipients to hold a crypto wallet. The round was announced on September 9, 2026.
Oak HC/FT led the financing. NEA, Coinbase Ventures, Lightspeed Faction, OpenFX, and Wilson Sonsini also participated. The Series A follows an $8 million Seed round closed earlier in 2026 and takes Latitude’s total funding to $43 million.
The company is based in San Francisco, California. It builds infrastructure that lets fintech companies, payroll platforms, marketplaces, and wallets move between stablecoins and local currencies through one integration.
The problem Latitude is working on is the last leg of a stablecoin payment. Digital dollars move between wallets quickly, but turning them into the currencies and payment methods that businesses, employees, contractors, and consumers actually use requires connections into local banking and payment networks. Latitude supplies those on-ramps and off-ramps and takes on the licensing, compliance, and liquidity work underneath.
Its rails connect stablecoin settlement directly to domestic systems such as Pix in Brazil, UPI in India, and mobile money networks in Kenya. A business initiates a payment through Latitude, and the recipient receives local currency in an existing account or payment method with no need to understand the stablecoin layer behind it.
Latitude currently serves payroll platforms, marketplaces, fintech companies, and wallets operating in more than 50 countries. It is licensed or approved in 45 US markets and is pursuing further licenses abroad. The company treats ownership of that regulatory footprint as central to its model, since it cuts the compliance work customers would otherwise face when entering new jurisdictions.
The platform also plugs into liquidity providers and trading venues in individual markets, routing transactions through available partners to improve pricing and reduce the number of intermediaries in each conversion. The goal is a single API for international money movement rather than separate infrastructure per country. Settlement is faster than traditional cross-border workflows as well: contractors, sellers, and employees can receive local currency within minutes instead of waiting days. Velo CFO, one customer, uses Latitude for payments into the Philippines.
Latitude was founded by Cyril Mathew, Brian Wrightson, and Vivek Morzaria, who previously held leadership roles at Stripe, Coinbase, Meta, Uber, and Zero Hash. With $43 million raised, the company plans to extend its licensing, liquidity, and payment-network coverage into more markets.
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