Solana multisig leader Squads raises $18 million to expand Altitude stablecoin accounts for enterprises, strengthening Solana’s role as an on-chain dollar treasury conduit.
According to The Block, Solana-based multi-signature protocol Squads has raised $18 million in a new strategic equity round led by Solana Ventures with participation from Coinbase Ventures, Haun Ventures, L1D and others. The latest funding brings Squads’ total funding to $42.9 million, which will be used primarily to expand Altitude, an enterprise platform focused on stablecoins.
Squads is the core infrastructure provider for the Solana ecosystem, providing multisig smart accounts and financial management tools used by DAOs, teams, and protocols to secure on-chain assets and manage programmatic control. Its platform, built on the Squads protocol, enables multi-signature wallets, granular permissions, and spending limits for Solana-native organizations and is often referred to as the de facto standard for multisig on networks. Solana Ventures’ participation in the latest round highlights the protocol’s strategic importance to the on-chain security and operational stack.
Solana stuck becomes serious
This new capital will accelerate the growth of Squads’ enterprise stablecoin account product, Altitude. Altitude allows businesses to use self-custodial accounts to send and receive stablecoin payments around the world 24/7, process payroll and vendor payments, and connect to broader payment networks through compliance and risk management layers. In fact, we aim to leverage the chain’s high throughput and low fees to turn Solana into a backend payment layer for dollar-denominated cash management.
As of April 29, 2026, Solana ($SOL) is trading around $84, slightly below recent levels around $86-88, and has a market cap of nearly $48 billion. On prediction platform Polymarket, traders currently see the $80-$90 range as the most likely closing price band. $SOLThis suggests that the market views this move as a consolidation rather than a breakout catalyst in its own right. Squad’s funding news strengthens Solana’s fundamental story as an enterprise-grade stablecoin flow and base layer for financial infrastructure, but it comes against the backdrop of modest near-term price declines and broad risk-off sentiment in the majors.
In the short term, this announcement is more likely to support sentiment and narratives about the Solana ecosystem rather than prompting an immediate re-evaluation of it. $SOL price level. A key question for traders is whether Altitude can meaningfully grow its on-chain stablecoin balances and trading volumes on Solana in the coming quarters. If so, that trend could strengthen fee income and network usage metrics, which have historically correlated with improved medium-term price performance. Until concrete implementation data is available, $SOLPrice movement is expected to remain within the current $80-$90 range, with the Squad round acting as a constructive but incremental bullish data point rather than an isolated catalyst.
