$SOL is attracting another significant amount of capital. The Squads protocol has raised $18 million in a funding round aimed at developing infrastructure for companies operating on stablecoins. This move could strengthen Solana's position as a backbone for global financial flows in the crypto world.

The round was led by Solana Ventures, with Coinbase Ventures, Haun Ventures, and L1D also participating. This brings Squads' total funding to nearly $43 million.

Squads plays a vital role in the Solana ecosystem, providing multisig solutions—wallets requiring multiple signatures to authorize transactions. These tools are crucial for organizations managing large funds—from DAOs to blockchain projects—as they enhance security and control over funds. Solana Ventures' participation in the round underscores the project's strategic importance to the entire network. Squads is often considered the standard for asset management on Solana, making it a cornerstone of the ecosystem's financial infrastructure.

The new funds will be allocated primarily to the development of the Altitude platform – a solution aimed at businesses using stablecoins. The product enables self-custody accounts, as well as 24/7 payments, salaries, and settlements with counterparties.

In practice, this represents an attempt to transform Solana into a global settlement layer for the digital dollar. Thanks to its high throughput and low fees, the network can compete with traditional financial systems, offering faster and cheaper transactions. For businesses, this means the ability to manage liquidity in real time without the need for intermediary banks or maintaining funds in multiple jurisdictions.

The funding announcement reinforces the narrative surrounding Solana as an infrastructure for business applications, but its impact on the coin's price remains limited. The price currently hovers around $80–90, indicating a consolidation phase rather than the beginning of a new trend.

The key question for the market will be whether Altitude actually attracts users and increases transaction volume on the network. It's real-world usage—not mere announcements—that has historically translated into long-term value growth for blockchain projects. For now, investors are treating the Squads round as a positive, but moderate, sign. However, if Solana manages to solidify its position as an infrastructure for global stablecoin flows, it could translate into significantly greater interest in the entire ecosystem in the future.