Diameter Pay, a stablecoin payments infrastructure firm, has secured $10 million in Series A funding led by CMT Digital and Lightspeed Faction. The round, which began in April and closed in July, follows the company’s founding in 2023 and marks its expansion into payment processing, now handling over $10 billion in annual transaction volume.
The startup, which provides infrastructure for banks, fintechs, and digital asset exchanges, has partnered with Portage Bank and SSB Bank as sponsor banks. These partnerships grant Diameter Pay access to USD clearing infrastructure in exchange for fee revenue and low-cost deposits, according to founder and CEO David Lighton.
Diameter Pay’s platform supports over 10,000 end users and operates with a team of 20 spanning the U.S., Argentina, Poland, and Nigeria. The company’s operations were bootstrapped prior to the Series A, which also included investments from SixThirty Ventures, Stellar Development Foundation, and other firms.
Lighton cited his experience at the World Bank in Haiti as inspiration for the firm’s mission. However, details on the company’s post-money valuation and specific client names remain undisclosed. A third sponsor bank, reportedly a public company, has not been identified.
Written by Rebecca Shaw
Industry Desk
