{"id":20104,"date":"2026-05-23T02:29:28","date_gmt":"2026-05-23T02:29:28","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/05\/23\/ripple-backs-squids-6m-cross-chain-round\/"},"modified":"2026-05-23T02:29:28","modified_gmt":"2026-05-23T02:29:28","slug":"ripple-backs-squids-6m-cross-chain-round","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/05\/23\/ripple-backs-squids-6m-cross-chain-round\/","title":{"rendered":"Ripple backs Squid&#8217;s $6M cross-chain round"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/crypto.news\/app\/uploads\/2024\/01\/crypto-news-XRP-Ripple-option03.webp\" \/><\/p>\n<div>\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<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\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 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 <a href=\"https:\/\/crypto.news\/price\/xrp\/\">XRP<\/a> 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\" href=\"https:\/\/t.co\/4xzUCt8eEa\">pic.twitter.com\/4xzUCt8eEa<\/a><\/p>\n<p>\u2014 squid (@squidrouter) <a 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 <a href=\"https:\/\/crypto.news\/jpmorgan-mastercard-and-ripple-test-tokenized-treasury-settlement-on-xrpl\/\">reported<\/a>, JPMorgan, Mastercard, and Ripple recently tested tokenized Treasury settlement on XRPL. Separately, the <a href=\"https:\/\/crypto.news\/xrp-alliance-debuts-flare-and-dcent-vaults\/\">XRP Alliance<\/a> 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=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/ripple-backs-squids-6m-cross-chain-round\/\">Source link <\/a><\/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 over $6 billion in volume through more than 4 million transactions since its January 2023 launch. The new funding brings Squid\u2019s total raised to $13.5 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-20104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/20104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=20104"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/20104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/20105"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=20104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=20104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=20104"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=20104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}