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About Diameter Pay
Diameter Pay gives banks, fintechs and exchanges a single API for dollar accounts and cross-border payments, bundling virtual accounts, domestic and international clearing, stablecoin on- and off-ramps and compliance controls. It addresses the loss of dollar access for smaller institutions as correspondent banking contracts: compliance and risk are spread across several US sponsor banks, so an institution can open a named account and send payments without building bank relationships, and convert between stablecoins and fiat through the same interface.
In the payment stack it sits between banks and stablecoin networks; unlike pure off-ramp providers, its compliance work runs across multiple banks so risk does not rest on one balance sheet. Customers run from Switzerland to Singapore across trade, remittance and exchange treasury flows, with more than 10 billion dollars processed in 2026 through early September. The rails depend on a handful of sponsor banks — Portage Bank and SSB Bank plus a third undisclosed listed bank — so a sponsor exiting directly narrows the corridors available.
Diameter Pay, formerly SendFriend, was founded at MIT in 2017 with a focus on cross-border remittances. In April 2023, it rebranded as Diameter Pay, pivoting to a stablecoin payment infrastructure that provides banks, fintechs, and digital asset exchanges with USD virtual accounts, payment rails, and stablecoin on/off-ramps. In 2026, it raised a $10 million Series A round co-led by CMT Digital and Lightspeed Faction, with participation from SixThirty Ventures and others. The company has processed over $10 billion in payment volume and plans to expand its banking and payment capabilities.
On September 3, 2026, Diameter Pay closed a $10 million Series A led jointly by CMT Digital and Lightspeed Faction, with SixThirty Ventures, the Stellar Development Foundation, Tech Council Ventures, Onigiri Capital and BitRock Capital participating. The company said it processed more than $10 billion in payments during the year and serves over 10,000 end users.
Diameter Pay founder and CEO David Lighton said the new capital expands banking and local payment rails, deepens stablecoin and foreign exchange infrastructure, and hardens compliance and risk controls. The Diameter Pay product puts fiat accounts, cross-border settlement and stablecoin clearing behind one API, covering collection, payout and cash concentration in emerging markets, with payment providers, fintechs and cross-border trade platforms as its main customers.
Diameter Pay will extend the direct banking network to more corridors by 2027, license stablecoin issuance and redemption, and move FX matching from manual quoting to automated pricing.
David Lighton — Founder & CEO; former World Bank official working on Haiti remittances and cross-border payments, founded Diameter Pay in 2023.
Robert Pozen — Senior Advisor to the Board; former President of Fidelity Investments.
The firm is hiring a CTO and a CCO.