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Squid raises $6M to expand consumer product offering on cross-chain infrastructure

Friday, May 22, 2026 — 16:36:58 (UTC)

Squid Raises $6M to Expand Consumer Product Offering on Cross-Chain Infrastructure

Platform has routed $6B+ in volume across 100+ blockchain networks for 1M+ users since January 2023 launch

ZUG, Switzerland, May 22, 2026 /PRNewswire/ -- Squid, a cross-chain platform connecting networks, liquidity sources, and applications to power the movement of digital assets across crypto, today announces $6M in funding led by North Island Ventures. Participating investors include Ripple, Dialectic, Borderless, Scenius Capital, Altos, and Arche Capital, along with angels from Axelar, Ledger, Polymer, Enso, and Peanut. Since launching in January 2023, Squid has routed over $6 billion in volume through more than 4 million transactions, serving over one million users and generating revenue through enterprise services and soon transaction fees. The funding will accelerate Squid's expansion into consumer products that make accessing and managing digital assets across blockchains simple enough that users never need to think about the infrastructure underneath.

Squid's existing app already enables any-to-any token movement across fundamentally different ecosystems, including Ethereum, Bitcoin, Solana, Cosmos, and XRPL, in a single transaction. As digital assets increasingly span multiple blockchain ecosystems through stablecoins, tokenized securities, and a growing number of networks, the expanded consumer offering is building on that same infrastructure to address a problem that grows with the industry itself. Because Squid owns every layer of its stack from execution engine through developer tools, the team can deliver that experience directly rather than assembling third-party components.

"Squid has demonstrated that cross-chain infrastructure can generate real revenue from real usage, and that the team can ship consistently across market cycles," said Travis Scher, Co-Founder & Managing Partner at North Island Ventures. "We led the seed round because the founding team and the technical approach were compelling. We're leading again because Squid has executed on that thesis."

"We built Peanut on Squid from day one. The routing handles the complexity of cross-chain payments so our users never have to think about it, and the team has been responsive and reliable at every step. When the opportunity came to invest, the decision was easy; I've seen what Squid delivers from the inside." — Konrad Urban, Co-Founder at Peanut

"Squid owns every layer of its technology, from the settlement protocol through developer tools to the products people actually use," said Christina Rud, Co-Founder at Squid. "That full-stack approach means we can connect any chain, support any token, and serve any audience, whether that's a developer integrating our SDK, a blockchain foundation connecting its ecosystem, or an individual swapping assets on our app. We have product-market fit, we have revenue, and we have the relationships across this industry to keep compounding both."

Squid is the most connected multi-chain platform, reaching ecosystems without smart contracts, including Bitcoin and XRPL. Its execution layer, Squid Intents, uses market makers to fill cross-chain transactions and settles them through Trusted Execution Environments (TEEs) rather than requiring contract deployments on every chain. This allows the platform to support 100+ networks with the best execution and 99.99% uptime.

With the funding secured, Squid will expand its consumer product offering, deepen partnerships with the chains and applications already building on its infrastructure, and extend network coverage into institutional ecosystems. The team expects to share more about its consumer roadmap in the coming months.

About Squid

Squid makes crypto whole with one complete platform for every asset, every market, and every user, through every surface and product. The stack spans from settlement protocol (Squid Intents) through aggregation and routing engine, developer tools (SDK, API, widgets), and consumer-facing products across 100+ blockchain networks. Squid supports 20,000+ tokens across every major ecosystem and has facilitated over $6B in lifetime volume since its January 2023 launch.

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Source: Company press release.

Categories: Announcement