Solana-based protocol Squads.xyz develops multisig, treasury, and payments tools for the stablecoin economy

Squads.xyz – Namecheap customer – (UAE)

Stablecoin platforms across the .xyz community are building infrastructure for payments, treasury, and onchain finance. Stablecoin incubator Obex.xyz supports the next generation of yield-generating stablecoin projects. Stripe-acquired payment platform Bridge.xyz aims to simplify stablecoin payments. Stablecoin network Stable.xyz develops infrastructure for cross-border payments. In this week’s #BlockchainThursday, we’ll introduce you to a platform developing financial infrastructure for the stablecoin economy: Squads.xyz.

Squads.xyz: Building financial infrastructure for the stablecoin economy

Squads.xyz is the online home of Squads, a financial technology company building products and APIs for the stablecoin economy. According to Squads.xyz, the company develops:

• Squad Multisig for Solana teams, a security feature that requires multiple keys to authorize a transaction
• Altitude.xyz for business financial operations
• Fuse, a personal finance app for stablecoins and tokenized assets¹

The website states that these products are supported by its infrastructure platform, Grid, which connects stablecoins, blockchain systems, and traditional financial rails. In June 2024, Squads Labs announced a $10M Series A funding round led by Electric Capital, and press coverage notes that the raise supports expansion of its Solana-based multisig protocol and broader product suite.²

Altitude.xyz and stablecoin-based business finance

The company’s product suite includes Altitude.xyz, which is presented as a business account designed for saving, earning, and moving money using stablecoins. According to Altitude.xyz, the platform is intended to function as a financial operating system for companies adopting blockchain-based infrastructure. The website states that stablecoins are used to address challenges such as settlement speed, fees, and cross-border limitations in traditional financial systems. The Altitude blog highlights use cases tied to treasury management and payments. The blog post “Send Swift Transfers From Your Stablecoin Treasury,” for example, explains a workflow where stablecoin balances can be used to initiate SWIFT transfers, outlining how blockchain-based assets can connect to traditional banking rails.

CEO Stepan Simkin at Consensus 2026

Squads leadership includes CEO Stepan Simkin, who has been involved in building tools for digital asset management and blockchain-based finance. Event materials note that Stepan Simkin is scheduled to speak at Consensus 2026, a blockchain and digital assets conference organized by CoinDesk.³ The session, titled “The New Financial Services Revolution: Banking on Blockchain,” is scheduled for May 7, 2026. The event listing notes that the session will focus on developments in payments and blockchain-based financial services, with participation from industry leaders including representatives from AMINA Bank and Lightspark.⁴

Squads.xyz: A domain upgrade aligned with stablecoin infrastructure

Squads upgraded its domain from sqds.io to the more memorable Squads.xyz. .XYZ is widely used by startups, developers, and builders working across blockchain and emerging technology sectors, making it a relevant choice for a company focused on stablecoin infrastructure. Squads.xyz supports clearer alignment between the company name and its online presence, which can improve findability for developers, partners, and researchers searching for the project. You can learn more by following the platform on X/Twitter and LinkedIn, and by visiting Squads.xyz.

^1. https://fusewallet.com/
^2. https://www.theblock.co/post/299287/solana-multisig-protocol-squads-funding-fuse
^3. https://consensus.coindesk.com/agenda/speaker/-stepan-simkin
^4. https://consensus.coindesk.com/agenda/event/-the-new-financial-services-revolution-banking-on-blockchain-136

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