Latitude Raises $35 Million for Local Stablecoin Off‑Ramps

Latitude announced a $35 million Series A financing round led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction and OpenFX. The capital will be used to expand the company’s network of local payout connections and to secure additional regulatory licences.

Funding and Investors

The round follows an $8 million seed round earlier in the year, bringing Latitude’s total funding to $43 million. Investors include Oak HC/FT, NEA, Coinbase Ventures, Lightspeed Faction and OpenFX.

Regulatory Footprint

Latitude holds 39 money‑transmission licences, one state registration and five no‑action letters across the United States. The company is registered with FinCEN as a money‑services business and has completed a SOC 2 Type I audit, with a Type II audit planned for the fourth quarter.

Geographic Coverage

Live payout markets include Argentina, Brazil, Colombia, Mexico, the Philippines, India and most European countries. Additional markets such as Chile, Ecuador, Peru, Uruguay, Thailand, Vietnam and several African nations are in beta.

Competitive Landscape

Other firms are also building infrastructure for stablecoin settlement. Recent moves include Circle’s agreement to acquire Tazapay, Privy’s launch of fiat on‑ramps with Stripe, and Deel’s expansion of its DLUSD wallet to over 80 countries.

Company Vision

Co‑founder and CEO Cyril Mathew said the goal is to let businesses move money in and out of any market without needing to understand the underlying stablecoin mechanics.