Cross chain platform Squid raises $6 million in funding

Squid, a cross chain infrastructure platform, has completed a strategic financing of $6 million, led by North Island Ventures with participation from Ripple, Reflective, Borderless, and others. Squid was initially incubated in the Axelar ecosystem and later developed into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross chain transactions, covering more than 100 blockchains, with a total of over 4 million transactions and over 1 million users. After this round of financing, Squid has raised a total of $135 million and plans to use the new funds to launch new products for consumers, simplifying the process of cross chain asset management for users.