Cross-chain platform Squid completes $6 million strategic financing, with participation from Ripple and others

The cross-chain infrastructure platform Squid has completed a $6 million strategic financing round, led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.

It is reported that Squid was initially incubated within the Axelar ecosystem and later developed into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with a total of over 4 million transactions and more than 1 million users. After this round of financing, Squid's total funding amount has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further simplifying the process for users to access, manage, and use crypto assets across chains.