Squads – a prominent project with a multisig protocol on the Solana blockchain – recently announced a new product named Altitude: a type of native stablecoin account designed specifically for businesses, allowing them to open and manage an account in USD without the need for traditional banks or entities in the U.S.


According to CEO Stepan Simkin, Altitude is a financial account that operates entirely on a decentralized blockchain, ensuring three core elements:



  • True ownership



  • True programmability



  • Real transparency




The special feature of #Altitude is that this account is 'live' directly on the blockchain. As long as the Solana blockchain is running, the accounts and protocols of Altitude will continue to operate, independent of any centralized banking system.


The launch of Altitude is also accompanied by a strategic investment from Haun Ventures – a major player in the Web3 investment field. Although specific figures were not disclosed, CEO Simkin confirmed this is the result of over a year of collaboration with Chris Ahn from Haun Ventures, demonstrating the project's long-term vision.


When asked about future expectations, Simkin stated:



"I want within the next year, we will have a stable user group of businesses actually using Altitude to manage their entire financial operations."



Simkin also emphasized: the goal is not just to capitalize on the hot stablecoin trend, but also to change the mindset: instead of building payment systems on specialized chains, why not make popular blockchains like Solana suitable for businesses and real payment systems?


Contact with the crypto market:

The emergence of Altitude is a clear sign that stablecoins are not just speculative trading tools but are gradually becoming a financial infrastructure for organizations. With the native account model#stablecoin , global businesses – including users on Binance – can reduce reliance on traditional banks, accessing a more transparent, faster, and increasingly global digital financial system.


Risk warning:

Although stablecoins and decentralized accounts offer many benefits, investors and businesses need to clearly understand the technical, legal, and liquidity risks. The crypto market is always volatile and not suitable for everyone. The application to financial operations needs to be thoroughly evaluated, avoiding complete dependence on a single platform.#anhbacong