(SeaPRwire) –   The platform has facilitated over $6 billion in transaction volume across more than 100 blockchain networks for over 1 million users since its launch in January 2023

ZUG, Switzerland, May 22, 2026 — Squid, a cross-chain platform designed to link networks, liquidity sources, and applications for seamless digital asset movement within the crypto space, today announced it has secured $6 million in funding, spearheaded by North Island Ventures. Participating investors include Ripple, Dialectic, Borderless, Scenius Capital, Altos, and Arche Capital, alongside angel investors from Axelar, Ledger, Polymer, Enso, and Peanut. Since its inception in January 2023, Squid has processed over $6 billion in volume through more than 4 million transactions, serving over one million users and generating revenue from enterprise services, with transaction fees soon to follow. This capital injection will accelerate Squid’s expansion into consumer-focused products, aiming to simplify the access and management of digital assets across various blockchains to the point where users are unaware of the underlying infrastructure.

Squid’s current application already facilitates the transfer of any token between diverse ecosystems such as Ethereum, Bitcoin, Solana, Cosmos, and XRPL, all within a single transaction. As digital assets increasingly spread across numerous blockchain ecosystems via stablecoins, tokenized securities, and an expanding array of networks, the enhanced consumer offering leverages this existing infrastructure to tackle a challenge that scales with the industry. Given that Squid controls every layer of its technology stack, from the execution engine to developer tools, the team can provide this experience directly, avoiding the integration of external components.

“Squid has proven that cross-chain infrastructure can yield genuine revenue from actual utilization, and that its team consistently delivers across various market conditions,” stated Travis Scher, Co-Founder & Managing Partner at North Island Ventures. “We initially led the seed round due to the compelling founding team and their technical strategy. We are investing again because Squid has successfully delivered on that vision.”

“From its inception, Peanut was built upon Squid. Its routing capabilities manage the intricacies of cross-chain payments, ensuring our users never encounter them, and the team has consistently shown responsiveness and reliability. When the chance to invest arose, it was an easy choice; I have witnessed Squid’s capabilities firsthand,” commented Konrad Urban, Co-Founder at Peanut

“Squid maintains ownership over every component of its technology, encompassing the settlement protocol, developer tools, and the end-user products,” explained Christina Rud, Co-Founder at Squid. “This comprehensive, full-stack methodology allows us to link any blockchain, support any token, and cater to any user group—be it a developer integrating our SDK, a blockchain foundation expanding its ecosystem, or an individual exchanging assets on our application. We have achieved product-market fit, generated revenue, and cultivated industry relationships that will enable us to continue growing both.”

Squid stands as the most interconnected multi-chain platform, extending its reach to ecosystems lacking smart contract capabilities, such as Bitcoin and XRPL. Its execution layer, known as Squid Intents, employs market makers to complete cross-chain transactions, settling them via Trusted Execution Environments (TEEs) instead of necessitating contract deployments on each individual chain. This approach enables the platform to support over 100 networks, offering optimal execution and 99.99% uptime.

Having secured the funding, Squid plans to broaden its consumer product range, strengthen collaborations with existing chains and applications utilizing its infrastructure, and expand its network reach into institutional environments. The team anticipates providing further details on its consumer roadmap in the upcoming months.

About Squid

Squid unifies crypto with a single, comprehensive platform catering to every asset, market, and user, across all interfaces and products. Its technology stack encompasses the settlement protocol (Squid Intents), an aggregation and routing engine, developer tools (SDK, API, widgets), and consumer-oriented products across more than 100 blockchain networks. Squid supports over 20,000 tokens across all major ecosystems and has processed more than $6 billion in total volume since its launch in January 2023.

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SOURCE Squid