BlockBeats message. March 31, according to Fortune magazine, stablecoin cross-border payments company Latitude announced it has completed a $8 million funding round, led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and the Solana Foundation. Latitude’s main product is the so-called Global Payments. The product enables U.S. businesses to make payments to individuals in more than 50 countries. When a U.S. company sends dollars through Latitude, the startup’s network first converts the dollars into stablecoins and then converts them into the recipient location’s local currency.
The three co-founders previously worked at companies such as Uber, Coinbase, Meta, and Stripe. They said that their experience in crypto, technology, and payments made them realize the importance of efficient global capital flows.
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