Solana Ventures leads $18 million round in Squads to scale its stablecoin platform Altitude
The Block
Squads raised $18 million, led by Solana Ventures, to expand its stablecoin platform Altitude, which enables businesses to replace traditional banking with stablecoin operations.Summary
Squads, the team behind a prominent Solana-based multisig protocol, has secured $18 million in a strategic funding round led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, and L1D. This investment brings the company's total funding to $42.9 million. The capital will support the growth of Altitude, a platform designed to help businesses manage financial operations using stablecoins instead of traditional bank accounts. Altitude provides a self-custodial infrastructure that integrates compliance features like sanctions screening and anti-money laundering checks, aiming to offer faster, cheaper, and 24/7 global financial services.
(Source：The Block)