Latitude raises $8M to help U.S. businesses make fast international payments using stablecoin rails

Latitude, a fintech startup founded by former Stripe, Coinbase, Uber, and Meta employees, raised $8M in a round led by NEA with participation from Lightspeed Faction, Coinbase, Paxos, and Solana Foundation. Its core product, Global Payouts, lets U.S. businesses send payments to individuals in over 50 countries by converting dollars into stablecoins and back into local currency, removing the complexity of crypto from the sender and recipient. The startup positions itself against traditional banks and Swift-based foreign exchange rails, arguing that small businesses are overpaying for slow cross-border transfers under the incumbent system.