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Diameter Pay raises $10 million for stablecoin payment infrastructure
The Series A began in April and closed in July, and the startup said it has processed more than $10 billion in payment volume this year.
Diameter Pay, a stablecoin payments infrastructure startup aimed at expanding global access to U.S. dollars, raised $10 million in a Series A round co-led by CMT Digital and Lightspeed Faction, according to The Block.
The startup said the round was its first funding round, structured as equity and closed in a single tranche. Founder and CEO David Lighton told The Block the fundraising process began in April and closed in July, and he declined to comment on post-money valuation.
Diameter Pay said it has processed more than $10 billion in payment volume this year, helping institutional clients connect to U.S. dollar accounts, payment rails, and stablecoin on- and off-ramps.
The company, founded in 2023, provides payment infrastructure for banks, fintechs, and digital asset exchanges, including U.S. dollar virtual accounts and compliance controls via U.S. banking partners. Sponsor banking partners include Portage Bank and SSB Bank, and Lighton said more banks are being onboarded as the platform works to provide USD clearing access and fee revenue for sponsor banks.