{"id":29502,"date":"2026-05-22T22:34:42","date_gmt":"2026-05-22T22:34:42","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ripple-backs-squids-6m-round-to-simplify-cross-chain-crypto\/"},"modified":"2026-05-22T22:34:48","modified_gmt":"2026-05-22T22:34:48","slug":"ripple-backs-squids-6m-round-to-simplify-cross-chain-crypto","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ripple-backs-squids-6m-round-to-simplify-cross-chain-crypto\/","title":{"rendered":"Ripple backs Squid\u2019s $6M round to simplify cross-chain crypto"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ripple joined a $6M funding round for cross-chain infrastructure platform Squid.<\/p>\n<div id=\"cn-block-summary-block_5ae550e9530fa9e85fd7c996e98941b9\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>North Island Ventures led the $6M strategic round, with Ripple, Dialectic, and Borderless also participating.<\/li>\n<li>Squid has routed over $6 billion in volume through more than 4 million transactions since its January 2023 launch.<\/li>\n<li>The new funding brings Squid\u2019s total raised to $13.5 million and will fund consumer-facing product expansion.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Cross-chain platform Squid <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/squid-raises-6m-to-expand-consumer-product-offering-on-cross-chain-infrastructure-302779721.html\" target=\"_blank\" rel=\"nofollow\">raised<\/a> $6 million in strategic funding to build new consumer-facing products that simplify how users move assets across blockchains. North Island Ventures led the round, with Ripple, Dialectic, Borderless, Scenius Capital, Altos, and Arche Capital also participating.<\/p>\n<p>Angel investors including Axelar co-founder Georgios Vlachos, Enso Finance founder Connor Howe, and Constructive founder Dan Lynch joined as well. Squid\u2019s pseudonymous co-founder Fig declined to disclose the valuation or round structure.<\/p>\n<h3 class=\"wp-block-heading\">What Squid does and why Ripple invested<\/h3>\n<p>\u201cThe vision is to make directly accessing whatever you need in crypto as simple as the cross-chain swaps Squid already handles today,\u201d Fig told The Block.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Squid\u2019s application allows users to move assets across fundamentally different blockchain ecosystems, including Bitcoin, Ethereum, Solana, Cosmos, and the XRP Ledger, in a single transaction. Squid serves as the official bridge partner for the XRP Ledger and operates a validator on the network, making Ripple\u2019s investment a natural extension of an existing relationship.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are proud to announce that Squid has raised $6M in funding round led by North Island Ventures and backed by strategic investors!<\/p>\n<p>Our new chapter has begun, with more news coming soon. Today we celebrate and say thank you. CHEERS \ud83d\udcab <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/4xzUCt8eEa\">pic.twitter.com\/4xzUCt8eEa<\/a><\/p>\n<p>\u2014 squid (@squidrouter) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/squidrouter\/status\/2057894019082973564?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 22, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Since launching in January 2023, Squid has processed over $6 billion in volume through more than 4 million transactions across over one million users. Its execution layer, Squid Intents, uses market makers to fill cross-chain transactions and settles them through trusted execution environments rather than requiring smart contract deployments on every chain. That architecture lets the platform support more than 100 networks.<\/p>\n<p>The round brings Squid\u2019s total funding to $13.5 million, following a $3.5 million seed round in 2023 and a $4 million strategic round in 2024. The team currently has around 20 people and is not hiring.<\/p>\n<p>Ripple\u2019s participation fits a broader pattern of infrastructure investments around the XRP Ledger. As crypto.news reported, JPMorgan, Mastercard, and Ripple recently tested tokenized Treasury settlement on XRPL. Separately, the XRP Alliance launched earlier this month to build yield products for XRP holders.<\/p>\n<p>Squid expects to share more about its consumer roadmap in the coming months.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple joined a $6M funding round for cross-chain infrastructure platform Squid. Summary North Island Ventures led the $6M strategic round, with Ripple, Dialectic, and Borderless also participating. Squid has routed&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=29502"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29502\/revisions"}],"predecessor-version":[{"id":29503,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29502\/revisions\/29503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1359"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=29502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=29502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=29502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}