Squads Raises $18 Million to Scale Altitude Stablecoin Finance Platform on Solana

New updates have been reported about Squads.

Squads has secured an $18 million strategic funding round led by Solana Ventures, with backing from Coinbase Ventures, Haun Ventures, L1D, Collab+Currency, Electric Capital, Placeholder, Jump Crypto, and Robot Ventures, lifting total capital raised to $42.9 million. The funds will accelerate Altitude, Squads’ stablecoin-based financial operating system, which relies on licensed payment service providers instead of holding customer deposits directly.

Altitude uses stablecoin rails for treasury and payments, enabling instant, low-cost settlement 24/7 while bridging to traditional banking through a network of regulated PSPs for global coverage. Since its public launch in December 2025, the platform has processed more than $200 million in payments for exporters, global agencies, crypto-native firms, and cross-border teams, and Squads plans to use the new capital to expand its team, payment network, and product capabilities.

CEO Stepan Simkin said the financing reflects the thesis that business finance is migrating from legacy banking infrastructure to stablecoin-native systems as Solana and regulatory frameworks mature. Solana Ventures’ Matthew Beck highlighted Squads’ four years of work on security infrastructure, including the Squads Protocol that safeguards over $10 billion on Solana, as a key reason for the investment and for confidence that Altitude can become the operating layer for global business finance.

Altitude targets two main barriers to corporate stablecoin adoption: compliance and security, by embedding sanctions screening, AML checks, transaction monitoring, and KYB into a proprietary engine that connects each account to PSPs such as Bridge, MoonPay, Infinite, and Due. On the security side, Squads enforces programmable controls, granular permissions, and multifactor authentication at the product level, while relying on Squads Protocol for custody and Solana for settlement, positioning the company to capture growing demand for programmable, cross-border treasury and payments infrastructure.