Squads has announced the launch of Altitude, a stablecoin-native account that allows businesses to operate without relying on traditional banks. CEO Stepan Simkin emphasized the benefits of using a centralized blockchain, which offers true ownership, programmability, and transparency. The launch has also attracted a strategic investment from Haun Ventures, although specific figures were not disclosed. The idea of Altitude was conceived about a year ago, following initial discussions between Simkin and Chris Ahn from Haun Ventures. Simkin envisions that within a year, Altitude will maintain a consistent user base among legitimate businesses utilizing the account for financial management. This launch coincides with a significant rise in interest towards stablecoins, enhancing its relevance in the current market landscape.

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