Stablecoin payments company Latitude has completed a $35 million Series A funding round, led by Oak HC/FT.

BlockBeats News, September 9 - According to Fortune, global payment infrastructure company Latitude announced the completion of a $35 million Series A funding round, led by Oak HC/FT, with participation from NEA, Coinbase, Lightspeed Faction, and OpenFX. Previously, Latitude had completed an $8 million seed funding round, and the valuation for this round was not disclosed.

Latitude was co-founded by industry veterans who previously worked at Stripe, Uber, Coinbase, and Meta. The company provides infrastructure for digital banks, payroll platforms, marketplace platforms, and financial institutions, enabling businesses to make cross-border transfers via stablecoins and disburse funds in local currency to bank accounts or mobile wallets.

The new funds will be used to expand compliance, engineering, legal, and sales teams. Latitude currently holds or maintains licenses in 45 U.S. markets and plans to apply for direct regulatory licenses in Southeast Asia, Latin America, and Africa to further expand its business beyond the United States.