Squads Secures $18M to Expand Stablecoin-Powered Financial System Altitude

Squads, the company behind Altitude, has raised $18 million in a new funding round. The investment pushes its total funding to $42.9 million and aims to speed up growth for its financial operating system. Altitude runs on stablecoin infrastructure and promises faster, more flexible payments for businesses worldwide. The latest funding round was led by Solana Ventures, with several other investors joining in. Matthew Beck, head of Solana Ventures, called Altitude a key tool for the next wave of global businesses. He believes it will redefine how companies handle their finances.

Altitude processes payments through a network of licensed stablecoin Payment Service Providers (PSPs). Since its launch, the system has already handled over $200 million in transactions for various customers. Businesses using Altitude benefit from global coverage, multi-currency support, and instant settlements.

Unlike traditional banking, Altitude does not hold customer funds. Instead, treasury operations run entirely on stablecoins, separating them from the fractional reserve system. Stepan Simkin, CEO of Squads, argues that stablecoins offer a stronger alternative to legacy banking. The system also includes programmable controls, giving businesses more flexibility over their finances. The new funding will help Altitude expand its reach as a stablecoin-based financial solution. Companies adopting the system gain faster settlements, multi-currency support, and greater control over payments. With $200 million already processed, the platform is positioning itself as a major player in business finance.