No bank account opening required, understand the dollar account solutions for global enterprises in one article Altitude | CryptoSeed

Author: Daisy, ChainCatcher

Edited by: TB , ChainCatcher

Altitude is a payment platform based on Squads Protocol, aiming to replace traditional banking with a stablecoin native operating system.

Note: Squads Protocol is a set of on-chain multi-signature and permission control systems, which are now used in multiple asset management scenarios.

In the traditional payment system, non-US companies often face various restrictions such as difficulty in opening an account, slow cross-border transfer, complicated procedures, and high costs. Altitude's USD account solution is committed to helping the aforementioned companies break through cross-border bottlenecks and improve financial efficiency.

At present, the platform mainly provides services such as storing, transferring and managing US dollar funds to corporate users. Unlike traditional bank accounts, opening a US dollar account in Altitude does not require US company qualifications or paper materials, and can be used only by email registration, and the service can cover enterprises in different countries and regions.

In addition, according to official information, Altitude can provide real-time global payments, 24/7 US dollar liquidity, competitive yields and security enforced by deterministic codes.

Its account functions include a combination of traditional payment channels (such as ACH, Wire, SEPA) and on-chain stablecoin transfers, and provide tools such as permission settings, multi-account management, and fund approval. The platform is also connected to the DeFi protocol, which can manage on-chain revenue for unused funds in the account. In the future, it is also planned to expand modules such as invoices, accounting and virtual cards.

On the one hand, Altitude uses stablecoins as an intermediary to support companies without relying on traditional banking systems to have available USD accounts, and collect and pay USDs globally at extremely low costs.

On the other hand, it is committed to simplifying complex processes in corporate finance, digitizing and standardizing team authority allocation, operation approval, expenditure control, etc. to improve internal collaboration efficiency. In addition, it also supports enterprises to track real-time funding trends and no longer rely on manual records to avoid problems such as delayed feedback.

In general, what Altitude does is help non-U.S. companies easily create U.S. dollar accounts, while the group lowers the threshold and cost of participating in international financial networks.

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 blockchain. They have provided underlying support for many large-scale projects and have deep experience in Squads property management and authority control. In addition, according to publicly queried information, Altitude has received support from the well-known investment institution Haun Ventures, but the specific financing information has not been disclosed yet.

(This article only introduces early projects and is not used as investment advice.)