Squads, a multi-signature protocol within the Solana ecosystem, has completed an $18 million equity funding round led by Solana Ventures.

CoinFeed reported on April 29th that Squads, a multi-signature protocol project within the Solana ecosystem, has completed an $18 million equity funding round led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and others, bringing its total funding to $42.9 million. Squads will use the funds to expand its stablecoin settlement platform, Altitude, which focuses on enabling businesses to manage funds and payments using stablecoins instead of traditional bank accounts. Since its public beta launch last December, Altitude has processed over $200 million in payments for exporters and cross-border teams, with funds held in stablecoins through a self-custodied wallet.