Latitude announces $8 million funding round led by NEA

BlockBeats News, March 31st, according to Fortune magazine, stablecoin cross-border payment company Latitude announced the completion of an $8 million financing round, led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and the Solana Foundation, among others. Latitude's main product is the so-called global payments, which allows U.S. businesses to make payments to individuals in over 50 countries. When a U.S. company sends dollars through Latitude, the startup's network first converts the dollars into a stablecoin, which is then converted into the local currency of the recipient.

The three co-founders have previously worked at companies such as Uber, Coinbase, Meta, and Stripe. They stated that their experience in the crypto, tech, and payment fields made them aware of the importance of efficient global fund flows.