TechFlow News, March 31: According to Fortune, cross-border payments startup Latitude has announced an $8 million funding round, led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and the Solana Foundation. The company’s valuation was not disclosed.
Latitude was co-founded by Cyril Mathew, Vivek Morzaria, and Brian Wrightson—former employees of Stripe, Coinbase, Uber, and Meta. Its flagship product, “Global Payouts,” enables U.S. businesses to pay individuals in over 50 countries worldwide: USD is converted via stablecoin rails and settled in the recipient’s local currency, abstracting away underlying complexity for end users. Podcast platform Zencastr has already used this network to pay content creators in India and other regions.
Latitude’s second product targets crypto-native applications, allowing international users in countries such as Mexico and the Philippines to convert their local currency into stablecoins via Latitude’s infrastructure—enabling access to prediction markets and similar platforms. The company is currently in beta, generating revenue through transaction fees, and employs 11 people. Latitude views traditional banks and legacy foreign exchange clearing institutions such as SWIFT as its primary competitors.
