No bank account opening required: Understand Altitude's USD account solution for global businesses in one article
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No bank account opening required: Understand Altitude's USD account solution for global businesses in one article
Altitude offers real-time global payments, 24/7 dollar liquidity, competitive yields, and security enforced by deterministic code.
Navigating Web3 tides with focused insightsWritten by: Daisy, ChainCatcher
Altitude is a payment platform built 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 now used across multiple asset management scenarios.
In traditional payment systems, non-U.S. companies often face numerous restrictions when opening U.S. dollar accounts, including difficulty in account opening, slow cross-border transfers, complex procedures, and high costs. Altitude's USD account solution aims to help these companies overcome cross-border bottlenecks and improve financial efficiency.
Currently, the platform primarily serves enterprise users by offering services such as storing, transferring, and managing U.S. dollar funds. Unlike traditional bank accounts, opening a U.S. dollar account on Altitude does not require U.S. corporate qualifications or paper documentation—users can register via email only, and the service is accessible to businesses across different countries and regions.
Additionally, according to official information, Altitude offers real-time global payments, 24/7 U.S. dollar liquidity, competitive yields, and security enforced by deterministic code.
Account features include integration of traditional payment channels (such as ACH, Wire, SEPA) with on-chain stablecoin transfers, along with tools for permission settings, multi-account management, and fund approvals. The platform also integrates with DeFi protocols to enable on-chain yield generation from idle funds. Future plans include expanding modules for invoicing, accounting, and virtual cards.
On one hand, Altitude uses stablecoins as intermediaries, enabling enterprises to access U.S. dollar accounts without relying on the traditional banking system, allowing low-cost receipt and payment of U.S. dollars globally.
On the other hand, it aims to simplify complex processes in corporate finance by digitizing and standardizing team permission allocation, operation approvals, and spending controls to enhance internal collaboration efficiency. It also enables real-time tracking of fund movements, eliminating reliance on manual record-keeping and avoiding issues like delayed feedback.
Overall, Altitude helps non-U.S. companies easily create U.S. dollar accounts while lowering their barriers and costs to participate in the international financial network.
According to official information, its development team comes from the Squads Protocol project and has long focused on blockchain-based financial security and account management technologies. They have provided underlying support for several major projects and possess deep expertise in asset management and permission control. Additionally, publicly available information indicates that Altitude has received backing from prominent investment firm Haun Ventures, though specific funding details have not been disclosed.
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