Squads Secures $18M to Scale Stablecoin-Based Altitude Platform
Squads, the company behind Altitude, has raised $18 million in a new funding round led by Solana Ventures. The investment will help expand Altitude, a financial system built on stablecoin technology. Since its launch in December 2025, the platform has already processed over $200 million in payments for businesses worldwide. The latest funding round included backers such as Coinbase Ventures, Haun Ventures, and Jump Crypto. Other participants were L1D, Collab+Currency, Electric Capital, Placeholder, and Robot Ventures. This brings Squads’ total funding to $42.9 million.
Altitude operates without holding customer funds. Instead, it uses stablecoins for treasury and payments, allowing instant and low-cost settlements. The system connects to traditional banking through a network of licensed stablecoin Payment Service Providers (PSPs). Businesses using Altitude gain global coverage, multi-currency support, and programmable financial controls. Stepan Simkin, CEO of Squads, argued that stablecoins offer a more efficient alternative to legacy banking. Matthew Beck, Head of Solana Ventures, added that Altitude could become the standard for how future global businesses manage their finances.
The new funds will accelerate Altitude’s growth as it continues to process high volumes of stablecoin-based transactions. With over $200 million already handled, the platform aims to further integrate stablecoin infrastructure into mainstream business finance. The system’s design avoids reliance on fractional reserve banking, offering faster and more flexible financial operations.
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