Altitude

Altitude is a financial operating system built by Squads (legally Selimor Investments Limited) that lets businesses run their finances on stablecoin infrastructure instead of traditional banking rails. The platform launched publicly in December 2025 and is designed for companies that need fast, borderless financial operations—exporters, global agencies, crypto-native businesses, SaaS companies, and cross-border remote teams among them.

The Problem Altitude Addresses

Conventional business bank accounts are built on fractional-reserve infrastructure with settlement windows tied to business hours and constrained by the patchwork of correspondent banking relationships. International payments settle slowly, fees compound across intermediaries, and treasury yields are thin. Altitude's premise is that a business does not need a traditional bank account to meet its operational finance needs. Stablecoins, programmable smart accounts, and AI-driven automation can replace the core functions of a business bank account while improving speed, transparency, and control.

How It Works

Altitude accounts are self-custodial. Squads does not take custody of customer funds; stablecoin balances are held in self-custodial wallets controlled by the customer and secured by Squads Protocol, the smart account standard that has protected more than $10 billion in assets across 500-plus organizations on Solana over four years.

Three underlying layers power the platform. First, programmable blockchains encode financial rules directly into the system and execute transactions on Solana's ledger. Second, dollar-backed stablecoins enable instant, 24/7 settlement across borders without the delays of interbank clearing. Third, agentic interfaces—AI agents—automate repetitive financial operations: matching receipts to card transactions, tracking invoice status, monitoring burn rate, and executing scheduled payments according to pre-set rules.

For fiat connectivity, Altitude runs a proprietary compliance engine that performs continuous sanctions screening, anti-money laundering checks, transaction monitoring, and know-your-business verification. This engine then connects to licensed payment service providers—Bridge (a Stripe company), MoonPay, Infinite, and Due—to route payments over ACH, SEPA, Wire, and SWIFT rails in 150-plus countries.

Altitude supports stablecoin transfers across Ethereum Mainnet, Base, Avalanche, and Tempo in addition to Solana, making it chain-agnostic at the payment layer while remaining headquartered on Solana.

Core Features

Multi-currency accounts. Altitude accounts hold and transact in USD, EUR, MXN, BRL, and GBP. Businesses can receive payments in local currencies and settle in stablecoins or convert back to fiat as needed.

Yield on balances. Uninvested balances earn 3.25% APY, backed by US Treasuries and audited regularly to confirm 1:1 reserves.

Corporate cards. Altitude issues virtual and physical Visa Signature Corporate cards for teams. Card controls include programmable spend policies by card, team, and category, plus automated expense management that reads digital receipts forwarded by email, matches them to transactions, and attaches them automatically.

Global payments. Outgoing payments run over stablecoin rails or through licensed PSP integrations depending on the recipient's preferred method, with full transaction history recorded on-chain.

AP/AR automation. The platform manages invoice creation, tracking, and approval workflows, giving teams a unified ledger across fiat and stablecoin positions.

Agentic finance. Altitude's AI agent layer automates payment execution based on rules, provides real-time burn rate and runway monitoring, and handles routine finance tasks without manual intervention.

Security and Compliance

Altitude holds SOC 2 Type I certification. The Squads Protocol smart account infrastructure underpinning it is formally verified, independently audited, and open source. Multi-party approval requirements and granular permission controls are available by default. The compliance engine meets the same standard expected from regulated fintechs: every account undergoes KYB verification before activation, and ongoing AML and sanctions screening runs continuously against transaction activity.

Stablecoin reserves are backed 1:1 by dollar-equivalent assets and subject to regular independent audits.

Team and Funding

Altitude is developed by Squads, which employs 38 people and is led by CEO Stepan Simkin. Squads built Squads Protocol—now the dominant smart account standard on Solana—before expanding into the Altitude business finance product.

Squads has raised $42.9 million in total. The most recent round, $18 million closed in April 2026, was led by Solana Ventures and joined by Coinbase Ventures, Haun Ventures, L1D, Collab+Currency, Electric Capital, Placeholder, Jump Crypto, and Robot Ventures. The stated purpose of the round is to grow the Altitude team, expand the payment network, and accelerate product development.

Traction and Solana Ecosystem Context

Since its December 2025 public launch, Altitude has processed more than $200 million in payments for its initial customer base, which includes exporters, global agencies, crypto-native companies, and cross-border remote teams. Notable Solana ecosystem partners on the platform include Metaplex, Jupiter, Kamino, and MetaDAO.

Squads is deeply embedded in the Solana ecosystem through its underlying smart account protocol. Altitude applies that infrastructure to the business finance problem, positioning Solana as the settlement layer for real-world commercial transactions. The combination of self-custody, stablecoin payments, multi-chain reach, and an AI automation layer makes Altitude one of the more substantive attempts to bring institutional finance workflows on-chain on Solana.