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Multi-Signature Protocol Developer Squads Completes $18 Million Strategic Financing Round, Led by Solana Ventures

2026.04.29 22:06:52

On April 29, Squads—Solana-based multi-signature protocol developer—announced closing an $18 million strategic funding round led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and other investors. To date, Squads has raised a total of $42.9 million. Squads noted the new capital will be used to expand Altitude, its stablecoin-focused financial platform. Launched in December 2023, Altitude offers 24/7 global stablecoin-based payment and fund management services for enterprises. Altitude uses a self-custody wallet model, where enterprise funds are held directly as stablecoins instead of in traditional fractional reserve bank accounts. The platform also integrates compliance tools including sanctions screening, AML (Anti-Money Laundering), transaction monitoring, and KYB (Know Your Business), plus connections to payment service providers like MoonPay. Since its launch late last year, Altitude has processed over $200 million in payment volume, serving clients such as exporters, cross-border remote teams, crypto-native firms, and global agencies, Squads revealed.
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