In the fast-evolving world of blockchain and stablecoins, Stepan Simkin, CEO of Squads Protocol, recently shared some eye-opening thoughts on why we can't stop at just USD-based assets. His thread on X challenges the idea that tokenized money will stay limited to dollars, arguing that for real business-to-business (B2B) adoption, we'll need onchain foreign exchange (FX) and versions of major global currencies like the euro or Brazilian real.

Simkin points out that stablecoins—cryptocurrencies designed to hold a steady value by being pegged to traditional fiat money—are essentially programmable cash. Blockchains serve as the rails for moving this money around efficiently. But if we're serious about bringing high-volume B2B transactions onchain, sticking to USD won't cut it. Businesses often have obligations in local currencies, and they need tools to lock in exchange rates, hedge risks, and settle payments seamlessly without last-minute surprises.

He draws a parallel to early skepticism about stablecoins, where folks thought they'd only matter outside the US. Fast forward, and stablecoins are everywhere, enabling better financial products. The same logic applies here: tokenized currencies will expand to absorb euros, pounds, and more because that's what unlocks truly innovative services.

Altitude Leading the Charge with Real-World Implementation

What's exciting is that this isn't just theory. Simkin reveals that his team's product, Altitude—a stablecoin-native account for global businesses—is already handling USD to EUR conversions using USDC and EURC via Jupiter Exchange. USDC is Circle's dollar-pegged stablecoin, while EURC does the same for euros. This integration means businesses can swap between these currencies onchain with solid liquidity.

And demand is growing. Simkin notes interest in adding Brazilian real (BRL), Singapore dollar (SGD), and British pound (GBP). The ultimate setup? For each currency, combine a virtual fiat account for incoming payments, deep onchain liquidity for FX trades, and local rails for outgoing fiat payouts. This combo turns clunky cross-border finance into something instant and cost-effective.

Altitude itself offers self-custodied USD and EUR accounts, global payment options like ACH, wire, and SEPA, plus rewards on balances. It's built on Solana for speed and low fees, making it a prime example of how blockchain can outpace traditional banking.

Why This Matters for Blockchain Practitioners

For anyone in the blockchain space, especially those dabbling in meme tokens or decentralized finance (DeFi), this signals a maturing ecosystem. Meme tokens often thrive on Solana, where low costs attract global communities. But as projects scale—think DAOs managing treasuries or creators paying international teams—handling multiple currencies becomes essential. Onchain FX could prevent value loss from volatile exchanges and enable smoother operations.

Agents powered by smart contracts could automate hedging and swaps, ensuring you always have the right currency ready. It's about making blockchain practical for everyday business, not just speculation.

Simkin wraps up by emphasizing that scaling to real-world volumes demands this infrastructure. Without it, we're limiting stablecoins' potential. As more platforms like Altitude roll out these features, expect a surge in adoption, pulling more traditional finance into the crypto fold.

If you're building or investing in blockchain, keep an eye on tokenized currencies—they might just be the bridge to mainstream B2B integration.