No need to open a bank account, understand the dollar account solutions for global enterprises at a glance Altitude | CryptoSeed
Introducing stablecoins into the core of corporate finance, connecting accounts, revenues, and cross-border payments, attempting to reconstruct the global flow of funds, does Web3 gain another practical value?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 to store, transfer, and manage 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.
In addition, 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 also integrates DeFi protocols to manage on-chain yields for 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 traditional banking systems, allowing 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 delayed 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 committed 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, but specific financing details have not yet been disclosed.
(This article only introduces an early-stage project and does not constitute investment advice.)
