Squads scores $18M from Solana Ventures to launch Altitude, a stablecoin-powered financial OS for businesses

Squads, a financial infrastructure company building on the Solana blockchain, has raised $18 million in a strategic funding round led by Solana Ventures to accelerate Altitude, its stablecoin-powered financial operating system for businesses. The round, announced in late April 2026, included participation from Coinbase Ventures, Haun Ventures, L1D, Collab+Currency, Electric Capital, Placeholder, Jump Crypto, and Robot Ventures, bringing Squads’ total funding to about $42.9 million. Altitude is positioned as a stablecoin-first financial OS that lets businesses hold treasury in stablecoins while accessing multi-currency accounts, corporate cards, global payments, yield on balances, and CFO tooling, all settling on-chain via Solana. Since its public launch in December 2025, Altitude has processed over $200 million in payments for exporters, global agencies, crypto-native firms, and cross‑border remote teams, using stablecoin rails for instant, low-cost settlement and routing fiat-facing payments through a network of licensed stablecoin payment service providers such as Bridge, MoonPay, Infinite, and Due. Squads’ underlying multisig protocol already secures more than $10 billion in assets on Solana, and the architecture keeps customer funds self-custodied in smart accounts while layering in programmable controls, compliance (KYC/KYB, AML, sanctions screening), and connections to traditional payment networks like ACH, wires, SEPA, and SWIFT. The funding and product push matter because they illustrate a broader shift toward stablecoins as core infrastructure for business finance, rather than just a niche crypto use case. By combining self-custodial stablecoin treasuries with access to traditional banking rails and newly launched corporate card programs (including a partnership with Rain for spending directly from on-chain treasury), Altitude is targeting CFOs and finance teams looking to reduce dependency on conventional banks while retaining regulatory compliance and familiarity in their workflows. This positions Squads and Altitude as part of a growing competitive field building “financial OS” layers on top of blockchain and stablecoin infrastructure for global businesses. "entities":["Squads","Altitude","Solana","Solana Ventures","Coinbase Ventures","Haun Ventures","L1D","Collab+Currency","Electric Capital","Placeholder","Jump Crypto","Robot Ventures","Squads Multisig","Squads Protocol","Bridge","MoonPay","Infinite","Due","Rain","USDC (implied stablecoin use)","Stepan Simkin","Deni Ershtukaev","Sean Ganser"]}'}Note: The extra backticks and characters at the end appear to be a formatting error and should be ignored. The structured content above them is the actual answer.`

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