Diameter Pay, a stablecoin payments infrastructure startup focused on expanding global access to the U.S. dollar, has raised $10 million in a Series A funding round co-led by CMT Digital and Lightspeed Faction.
This is Diameter Pay's first funding round, and the startup was bootstrapped before the Series A, founder and CEO David Lighton told The Block. The round was structured as equity and closed in a single tranche, Lighton said, noting that the fundraising process began in April and closed in July. Lighton declined to comment on post-money valuation.
Other investors in the round included SixThirty Ventures, Stellar Development Foundation, Tech Council Ventures, Onigiri Capital and BitRock Capital.
Founded in 2023, Diameter Pay provides payment infrastructure for banks, fintechs, and digital asset exchanges. Its platform gives clients access to U.S. dollar virtual accounts, domestic and international payments, stablecoin on- and off-ramps, and compliance controls through U.S. banking partners.
Lighton said these virtual accounts let foreign fintechs offer U.S. dollar accounts to their own customers, while Diameter Pay handles the compliance and payment controls behind the scenes. The accounts can also be connected to stablecoin infrastructure, he added.
