Solana Ventures Leads $18 Million Round in Squads to Expand Stablecoin Platform Altitude

Solana Ventures has led an $18 million strategic funding round for Squads as the company pushes deeper into stablecoin payments. The new capital lifts Squads’ total funding to $42.9 million and strengthens its Altitude platform. Coinbase Ventures, Haun, L1D, Collab+Currency, Electric Capital, Placeholder, Jump Crypto, and Robot Ventures also joined the round. 

Significantly, the investment comes as more firms move toward blockchain-based financial systems. Altitude aims to replace many traditional banking functions with a stablecoin-driven platform that gives businesses faster global access to payments, treasury tools, and multi-currency accounts.

Altitude Expands Stablecoin Payment Infrastructure

Squads designed Altitude as a financial operating system instead of a traditional banking service. The platform lets businesses hold treasury funds in stablecoins instead of standard bank accounts. Additionally, it connects companies to payment providers that handle fiat conversions across multiple regions.

The company said Altitude now supports payment coverage in more than 150 countries. It routes transactions through providers such as Bridge, MoonPay, Infinite, and Due. Consequently, businesses can send ACH, SEPA, wire, SWIFT, and stablecoin payments from one balance.

Altitude also removes repeated onboarding for each payment provider. Customers complete compliance verification once through Altitude. The platform then manages sanctions checks, AML screening, transaction monitoring, and KYB verification. Hence, businesses can access new payment rails without restarting the approval process.

Squads said Altitude has already processed more than $200 million in payments since its public launch in the fourth quarter of 2025. Moreover, the system has served businesses operating across more than 50 countries.

Security Model Supports Onchain Treasury

Squads has also focused heavily on account security as more firms move funds onchain. Every Altitude account operates as a programmable smart account on the Solana blockchain. The protocol already protects more than $10 billion in digital assets.

Each user account relies on several independent security keys. These include a passkey and two email-based keys through Privy and Turnkey. Additionally, account administrators can require hardware devices such as Ledger or YubiKey for larger transfers.

That structure gives businesses direct control over treasury assets. Besides, every transaction remains visible on the public blockchain. Squads believes this model offers stronger transparency than conventional banking systems.

SOL Price Remains in a Tight Range

While the funding highlights ecosystem growth, Solana’s market performance remains weak. SOL trades at $83.15 with a 24-hour volume of $2.9 million. 

The token has fallen 0.29% over 24 hours and 6.36% during the past week. Its market capitalization stands at $47,926,691,404 with 580 million tokens in circulation.

CRYPTOKRALI noted that Solana still trades inside a narrow range near $84. The analyst identified $82 to $85 as the key support zone.

Losing that range could send SOL toward $78 to $80. However, buyers still need a move above $90 to change the current market structure.