Cross-chain Platform Squid Raises $6 Million in Strategic Funding, with Participation from Ripple and Others

Odaily Planet Daily News: Cross-chain infrastructure platform Squid has completed a $6 million strategic funding 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 before developing into an independent platform. Since its launch in 2023, Squid states it has processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with over 4 million cumulative transactions and more than 1 million users.

Following this funding round, Squid's total cumulative funding has reached $13.5 million. The company plans to use the new capital to launch new consumer-facing products, further simplifying the process for users to access, manage, and use crypto assets across chains.