Author: Daisy, ChainCatcher

Editor: TB, ChainCatcher

Altitude is a payment platform based on the Squads Protocol, aimed at replacing traditional banking with a stablecoin-native operating system.

Note: The Squads Protocol is an on-chain multi-signature and permission control system that is now used in various asset management scenarios.

In the traditional payment system, non-U.S. companies often face various restrictions when creating U.S. dollar accounts, such as difficulties in account opening, slow cross-border transfers, complex procedures, and high costs. Altitude's U.S. dollar account solution aims to help these companies overcome cross-border bottlenecks and improve financial efficiency.

Currently, the platform primarily offers services for corporate users, including the storage, transfer, and management of U.S. dollar funds. Unlike traditional bank accounts, opening a U.S. dollar account on Altitude does not require U.S. company qualifications or paper materials; it can be used simply by registering via email, and the service is available to companies in different countries and regions.

Additionally, according to official information, Altitude provides real-time global payments, 24/7 U.S. dollar liquidity, competitive yields, and security enforced by deterministic code.

Its account features include a combination of traditional payment channels (such as ACH, Wire, SEPA) and on-chain stablecoin transfers, while also offering tools for permission settings, multi-account management, and fund approvals. The platform is also integrated with DeFi protocols, allowing for on-chain yield management of unused funds in accounts. Future plans include expanding modules for invoicing, bookkeeping, and virtual cards.

On one hand, Altitude uses stablecoins as intermediaries to support companies in having usable U.S. dollar accounts without relying on the traditional banking system, enabling them to make and receive U.S. dollars globally at very low costs.

On the other hand, it aims to simplify complex processes in corporate finance by digitizing and standardizing team permission allocation, operation approvals, and expenditure controls to enhance internal collaboration efficiency. Additionally, it supports companies in achieving real-time tracking of fund movements, eliminating reliance on manual records to avoid delays in feedback and other issues.

In summary, what Altitude does is help non-U.S. companies easily create U.S. dollar accounts while lowering the barriers and costs for this group to participate in the international financial network.

According to official information, its development team comes from the Squads Protocol project and has long been dedicated to financial security and account management technology on the blockchain. They have provided underlying support for several large projects and have extensive experience in asset management and permission control. Furthermore, publicly available information indicates that Altitude has received support from the well-known investment firm Haun Ventures, although specific financing details have not yet been disclosed.

(This article only introduces an early project and does not constitute investment advice.)

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