No need for a bank account, understand the dollar account solution for global enterprises Altitude in one article.

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?

Written by: Daisy, ChainCatcher

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

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

In traditional payment systems, non-U.S. companies often face various restrictions when opening 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 break through cross-border bottlenecks and improve financial efficiency.

Currently, the platform mainly provides services such as storing, transferring, and managing USD funds for corporate users. Unlike traditional bank accounts, opening a USD account on Altitude does not require U.S. company qualifications or paper materials; it can be used simply by registering via email, and this service can cover enterprises in different countries and regions.

In addition, according to official information, Altitude can provide real-time global payments, 24/7 USD 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 providing tools for permission settings, multi-account management, and fund approval. The platform also integrates DeFi protocols to manage on-chain yield for unused funds in the account. Future plans also include expanding modules for invoicing, bookkeeping, and virtual cards.

On one hand, Altitude supports enterprises with stablecoins as intermediaries to have usable dollar accounts without relying on traditional banking systems, enabling them to make and receive dollar payments globally at very low costs.

On the other hand, it is committed to simplifying the complex processes in corporate finance, digitizing and standardizing team authority allocation, operation approval, expenditure control, etc., to improve the efficiency of internal collaboration, and supporting enterprises to achieve real-time tracking of capital trends, no longer relying on manual records to avoid problems such as delayed feedback.

In general, what Altitude does is help non-U.S. companies easily create 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 been dedicated to financial security and account management technology on the blockchain for a long time. They have provided underlying support for several large projects and have deep experience in asset management and permission control for Squads. In addition, according to publicly available information, Altitude has received support from the well-known investment institution Haun Ventures, but specific financing information has not yet been disclosed.