PANews April 29 news, according to The Block, the multi-signature protocol project in the Solana ecosystem, Squads, has completed a 18 million dollars equity financing, led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and others, bringing the total financing amount to 42.9 million dollars. Squads will be used to expand its stablecoin settlement platform Altitude, which focuses on allowing businesses to manage funds and payments with stablecoins instead of traditional bank accounts. Since its public beta launch in December last year, Altitude has processed over 200 million dollars in payments for exporters, cross-border teams, and more, with funds held in stablecoins through self-custodial wallets. Squads claims that the platform has built-in compliance procedures such as sanctions screening, anti-money laundering, transaction monitoring, and corporate KYC, and integrates payment service providers like Bridge and MoonPay to cover global operations.

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