The Solana ecosystem multi-signature protocol Squads has completed a strategic financing of 18 million USD, led by Solana Ventures

According to The Block, the Solana ecosystem multi-signature protocol Squads announced the completion of a $18 million strategic financing round, led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and others. This round of financing is an equity round, bringing its total financing amount to $42.9 million. Squads will use the funds from this round to expand its stablecoin enterprise financial platform, Altitude.

It is reported that Altitude, the stablecoin payment platform under Squads, allows businesses to conduct 24/7 global payment settlements in stablecoins through self-custody wallets, and connects to the global payment network through compliance and risk control systems.