Squads Raises $18M to Revolutionize Business Finance with Stablecoin Tech

Squads, the company behind the financial operating system Altitude, has secured $18 million in a new funding round. This latest investment brings the firm’s total funding to $42.9 million. Investors see Altitude as a key player in reshaping how businesses handle financial operations.

The platform, built on stablecoin infrastructure, has already processed over $200 million in payments since its launch. The strategic round was led by Solana Ventures, with contributions from several other investors. Matthew Beck, Head of Solana Ventures, described Altitude as the future of global business finance, suggesting it will become the standard for the next generation of companies.

Altitude operates without holding customer funds. Instead, treasury is managed in stablecoins, enabling instant transactions on stablecoin networks. The system also integrates licensed Payment Service Providers (PSPs) to connect with traditional banking rails, ensuring flexibility for users.

The platform provides global coverage by default, supports multiple currencies, and offers instant settlement alongside programmable controls. Stepan Simkin, CEO of Squads, argued that businesses benefit more from stablecoin-based systems than from outdated banking infrastructure. He highlighted how stablecoins transform money into software, streamlining financial operations for companies of all sizes. The $18 million funding boost will accelerate Altitude’s growth, building on its existing $200 million in processed payments. With its mix of stablecoin efficiency and traditional banking access, the platform aims to redefine business finance. Companies using the system gain speed, global reach, and greater control over their transactions.