New York City-based fintech company Diameter Pay has raised $10 million in Series A funding. The company is building payment infrastructure that helps businesses make global US dollar payments and manage virtual accounts.

The funding round was led by CMT Digital and Lightspeed Faction. Other investors included SixThirty Ventures, Stellar Development Foundation, Tech Council Ventures, Onigiri Capital, and BitRock Capital.

Diameter Pay plans to use the new funding to expand its banking and payment services. The company also wants to improve its technology for stablecoins and foreign exchange (FX).

The fintech will also continue investing in its technology and compliance systems. These improvements are expected to help Diameter Pay support more businesses and make global dollar payments easier.

Diameter Pay founder and CEO David Lighton said, “The world is becoming more global, but the financial system is becoming more fragmented.

“Diameter Pay takes a different approach: rather than asking banks to accept more risk, we provide the technology, data, and compliance infrastructure to understand and manage that risk with greater precision. That’s the bridge we’re building, between traditional finance and digital finance so that money can move at the speed people and businesses actually need in a world that now runs 24/7.”

Founded by CEO David Lighton, Diameter Pay is a fintech company that helps banks, fintechs, and digital asset exchanges access US dollar accounts and payment services around the world through one API.

The company provides virtual accounts and international payment services, making it easier for businesses to send and receive US dollars across different markets.

Diameter Pay also offers built-in compliance tools. Its platform helps connect traditional financial services with the growing world of digital assets.