Solana Ventures has led an $18 million strategic funding round for Squads, a digital asset management and payments platform. This latest investment brings Squads’ total funding to $42.9 million and is set to bolster Altitude, its stablecoin-based payment infrastructure. Major investors such as Coinbase Ventures, Haun, L1D, Collab+Currency, Electric Capital, Placeholder, Jump Crypto, and Robot Ventures also participated in this round.
Blockchain-based corporate payments gain traction
Squads’ flagship product, Altitude, offers a stablecoin-powered financial operating system as an alternative to traditional banking services for businesses. The platform allows corporate clients to hold assets in stablecoins and seamlessly connect with multiple payment providers—including options for fiat transactions—across various regions.
Currently, Altitude supports payment operations in over 150 countries. Transfers on the platform can be conducted from a unified balance through providers like Bridge, MoonPay, Infinite, and Due, utilizing channels such as ACH, SEPA, wire transfer, SWIFT, and stablecoin payments. Crucially, the platform eliminates repetitive onboarding processes for each payment service, enabling companies to access new payment channels swiftly after a single identity verification on Altitude.
The system automates compliance checks including sanctions screening, anti-financial crime monitoring, transaction surveillance, and institutional client verification to streamline global business operations.
Security and transparency at the core of digital asset management
Since launching Altitude in the final quarter of 2025, Squads reports that it has processed over $200 million in payment transactions. Its solutions have reached businesses operating in more than 50 countries so far.
Squads places a strong emphasis on account security. Every Altitude account functions as a programmable smart account on the Solana blockchain. According to the company, Altitude now safeguards more than $10 billion in digital assets. Account protection features include a recovery passkey and two distinct email-based keys provided by Privy and Turnkey. For high-value transactions, hardware security devices such as Ledger or YubiKey can be employed with administrator approval.
Squads management highlights that every transaction is trackable on the public blockchain, offering greater transparency and control than conventional banking systems.
Thanks to this setup, businesses have direct oversight of their treasuries and can monitor all transactions with full transparency.
SOL price stays flat despite major funding news
Despite the announcement of the new funding round, Solana’s trading activity remains subdued. Latest data shows SOL is trading at $83.15, with a 24-hour volume of just $2.9 million. Over the past day, the price dipped by 0.29%, amounting to a 6.36% drop over the week. Solana’s current market capitalization stands at $47.9 billion, with 580 million SOL in circulation.
Analyst CRYPTOKRALI points out that SOL is still moving within a tight corridor around $84. The critical support range is identified between $82 and $85; a fall below this could send SOL down to the $78-$80 bracket. Conversely, a clear upward move is only expected if SOL surpasses the $90 level.
