Gate News announcement, on March 31, the cross-border payments company Latitude announced it has completed a $8.0 million funding round, led by NEA, with participation from Lightspeed Faction, a certain CEX, Paxos, and the Solana Foundation, among others. Latitude’s main product is a global payment service that lets U.S. businesses make cross-border payments to individuals in more than 50 countries. When a U.S. company sends dollars through Latitude, the platform first converts the dollars into stablecoins and then converts them into the recipient’s local currency. Latitude’s three co-founders previously worked at companies such as Uber, a certain CEX, Meta, and Stripe. They said their experience in crypto, technology, and payments has made the team deeply recognize the importance of efficient global capital flows.
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