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4.03.26
Wilson Sonsini Advises Latitude on $8 Million Financing
On March 31, 2026, Latitude, a cross-border payments company, emerged from stealth and announced an $8 million financing round led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and Solana Foundation, among other investors. Latitude’s flagship product, Global Fiat Payouts, enables U.S. businesses to pay recipients in more than 50 countries by converting dollars to stablecoins and then into local fiat currency. Its second product, International Stablecoin On-and-Off-Ramps, is embeddable directly into wallets and fintechs, and gives users a single API to move between local fiat and stablecoins across multiple markets.
Alerts
1.22.26
2026 Antitrust Year in Preview
Last year was a landmark in the development of antitrust law. Enforcers, legislators, and private parties grappled with the fundamental shift represented by artificial intelligence (AI) technologies, the resolution of important digital technology antitrust cases, and significant divergence in policy across a presidential administration transition. The changes will not stop in 2026. In this preview, we focus on several economic sectors that were most impacted by developments in antitrust law in 2025 to identify the trends that will drive governmental and private activity in antitrust in 2026.
Alerts
1.06.26
Federal Reserve’s “Payment Accounts” Proposal: A Term Sheet for Industry Input
The Federal Reserve Board is requesting public input on a prototype for a special purpose Federal Reserve Bank account (a “Payment Account”) that eligible institutions could use to clear and settle their own payments directly. Interestingly, the Federal Reserve Board’s Payments Account proposal is structured as a term sheet, serving as a preliminary framework. This presents a critical window for industry stakeholders to influence the proposed Payment Account’s design, operational parameters, and potential use cases.
Client Highlights
11.13.25
Wilson Sonsini Advises Circle in Connection with Launch of Circle StableFX
On November 13, 2025, Circle Technology Services, LLC, a global financial technology company and stablecoin market leader, announced the launch of Circle StableFX, an institutional-grade engine for onchain stablecoin foreign exchange (FX), built on Arc. Wilson Sonsini Goodrich & Rosati advised Circle on the launch, led by Fintech and Financial Services partner Jess Cheng.
Client Highlights
10.24.25
Wilson Sonsini Advises Tesser on $4.5 Million Seed Round
On October 21, 2025, Tesser announced that it has secured $4.5 million in seed funding for its cross-border stablecoin payments solution in a round led by Castle Island Ventures alongside Strobe Ventures and Anthemis, with participation from other strategic investors. Wilson Sonsini Goodrich & Rosati advised Tesser on the transaction.
Founded by Geetha Panchapakesan, a payments veteran who spent 18 years at MoneyGram, Visa Direct, and Circle, the company’s stablecoin payment platform addresses a critical gap: licensed financial institutions want to enable stablecoins, but lack the technical infrastructure to do so quickly and compliantly. The platform handles wallet provisioning, treasury management, compliance orchestration, and reconciliation—abstracting blockchain complexity and allowing institutions to maintain full control over risk and customer relationships.
The Wilson Sonsini team that advised Tesser on the transaction included Jonathan Chan, Kyle Canchola, and Kelly Stern.
For more information, please see Tesser’s news release.
Founded by Geetha Panchapakesan, a payments veteran who spent 18 years at MoneyGram, Visa Direct, and Circle, the company’s stablecoin payment platform addresses a critical gap: licensed financial institutions want to enable stablecoins, but lack the technical infrastructure to do so quickly and compliantly. The platform handles wallet provisioning, treasury management, compliance orchestration, and reconciliation—abstracting blockchain complexity and allowing institutions to maintain full control over risk and customer relationships.
The Wilson Sonsini team that advised Tesser on the transaction included Jonathan Chan, Kyle Canchola, and Kelly Stern.
For more information, please see Tesser’s news release.
Client Highlights
10.20.25
Wilson Sonsini Advises Lead Investor Pantera Capital on Coinflow’s $25 Million Series A
On October 8, 2025, next-generation payment service provider Coinflow announced a $25 million Series A funding round led by Pantera Capital, with participation from CMT Digital, Coinbase Ventures, The Fintech Fund, Jump Capital, and Reciprocal Ventures. Wilson Sonsini Goodrich & Rosati advised lead investor Pantera Capital on the transaction.
Coinflow is pioneering payments innovation by combining stablecoins, AI-driven fraud prevention, and blockchain proof-of-delivery into a single platform. The financing will accelerate development of the company’s unified global pay-in and payout infrastructure with instant settlement via stablecoins.
Coinflow is pioneering payments innovation by combining stablecoins, AI-driven fraud prevention, and blockchain proof-of-delivery into a single platform. The financing will accelerate development of the company’s unified global pay-in and payout infrastructure with instant settlement via stablecoins.
Client Advisories
10.13.25
Enhanced Protection for DeFi Lenders, Buyers, and Investors Under Recent and New UCC Amendments
One of the primary use cases for crypto and digital assets has been lending and borrowing against such crypto assets as collateral, representing billions of dollars of activity. Crypto-backed loans are offered by centralized financial institutions, crypto exchanges, and decentralized finance (DeFi) protocols. Holders of crypto assets have long sought to borrow against their digital assets as collateral to generate leveraged returns and increase yield, such as the recent wave of digital asset treasury (DAT) companies.
Alerts
10.06.25
New York Regulator Issues Updated Guidance for Virtual Currency Custodians
Recognizing the growing demand for virtual currency custodial services and the increased use of sub-custodial relationships in the digital asset space, the New York Department of Financial Services (NY DFS) announced updated Guidance on Custodial Structures for Customer Protection in the Event of Insolvency on September 30, 2025 (2025 Guidance).
Alerts
9.23.25
Defining the Future of Stablecoin Regulation: U.S. Treasury Requests Comment on GENIUS Act Implementation
The U.S. Department of the Treasury’s (Treasury’s) recently issued advance notice of proposed rulemaking (ANPRM) to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act presents a critical opportunity for industry stakeholders—especially stablecoin issuers and digital asset service providers—to help define the regulatory playing field before the rules are written.
Alerts
8.26.25
Public Comment Begins Under the GENIUS Act: Treasury Department Seeks Comment on Detecting Illicit Activity Involving Digital Assets
The U.S. Department of the Treasury issued a Request for Comment required by the recently passed Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), seeking public input on the use of innovative or novel methods, techniques, or strategies to detect and mitigate illicit finance risks involving digital assets. The Request also furthers the Administration’s policy of supporting the responsible growth and use of digital assets, as set out in Executive Order 14178 on “Strengthening American Leadership in Digital Financial Technology.”