Cross-chain platform Squid secures $6M in strategic funding led by North Island Ventures

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Release Time: 05/22/2026 22:10:41

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Summary

On-chain news: The cross-chain platform Squid has closed a $6 million strategic funding round led by North Island Ventures, with Ripple, Dialectic, and Borderless also participating. Project funding news: This raise brings the total funds raised to $13.5 million. Squid, which launched in 2023 under Axelar, has processed over $6 billion in cross-chain volume across 100+ blockchains, with 4 million transactions and 1 million users. The company plans to develop consumer-focused tools to simplify access to crypto assets and cross-chain usage.

Odaily Planet Daily report: 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.

Squid was initially incubated within the Axelar ecosystem and later evolved into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, supporting more than 100 blockchains, with over 4 million total transactions and more than 1 million users.

Following this funding round, Squid has raised a total of $13.5 million. The company plans to use the new capital to launch consumer-facing products that further simplify the process of accessing, managing, and using crypto assets across chains.

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