Squid raises $6M from Ripple, North Island Ventures. EthanBrooks 2026-05-25 18:13:06 Opening. Squid, a cross-chain infrastructure company, completed a $6 million funding round led by North Island Ventures with participation from Ripple, Axelar, Ledger, Polymer, Enso, and Peanut as angel investors. The announcement was made on the 26th. Squid has connected over 100 blockchain networks since its launch in January 2023, processing more than 4 million transactions with cumulative transaction volume exceeding $6 billion and over 1 million cumulative users. The funding reflects investor confidence in cross-chain infrastructure as stablecoin and tokenized securities markets expand, driving demand for simplified asset movement and settlement across different blockchain networks. Investment details. The $6 million funding round was led by North Island Ventures. Angel investors included representatives from Ripple, Axelar, Ledger, Polymer, Enso, and Peanut. Travis Scher, co-founder and managing partner at North Island Ventures, stated: "Squid has proven that cross-chain infrastructure can generate meaningful revenue based on actual user demand. This follow-on investment reflects our confidence in their execution in turning vision into actual results." Product & technology. Squid's platform enables asset transfers across major blockchains including Ethereum (ETH), Bitcoin (BTC), Solana (SOL), Cosmos, and XRP Ledger (XRPL). Users can manage multiple networks and tokens through a single interface. The platform operates on Squid Intents, the company's proprietary transaction execution system. According to Squid, this architecture enables operation without deploying separate smart contracts per chain, extending support to blockchains with limited existing smart contract integration. Use of funds & future plans. Squid plans to use the investment to expand consumer-facing services, focusing on enabling users to more easily move and manage digital assets distributed across multiple blockchain networks. Kristina Ludd, Squid co-founder, said: "Squid builds and operates transaction processing technology, developer tools, and consumer products directly. We support developers, blockchain projects, and general users in more easily connecting across different chains and coins. Having already secured product-market fit and a revenue base, we plan to continue partnership and ecosystem expansion." Market context. The expansion of stablecoin and tokenized securities markets has led to digital assets becoming distributed across multiple blockchains. This trend has increased demand for cross-chain infrastructure that simplifies asset movement, payments, and settlement between different chains. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

New York City, New York, November 11th, 2024, ChainwirePolymer Labs has officially launched Polymer Hub, a real-time interoperability protocol for connecting all Ethereum rollups. By streaming messages, states, and logs over IBC primitives (equivalent to Web2’s TCP/IP), Polymer Hub verifies and stores the headers of all connected rollups, allowing applications to prove any arbitrary state across rollups at vastly reduced overhead.Rollup/L2 ecosystems have historically connected only within their own walled gardens; with Polymer, however, rollups can now communicate across ecosystems and coordinate as fast as they can produce blocks. The protocol offers significant improvements in cross-chain communication latency, bandwidth, and cost for all on-chain primitives compared to existing solutions.Polymer aims to make cross-chain interoperability as fast, efficient, and affordable as blockspace itself, enabling Ethereum applications to scale to the next million users.Increase Bandwidth Reduce LatencyReal-time, high-throughput rollups are right around the corner, but existing interoperability protocols (point-to-point and hub-and-spoke models) were not designed to support dense network traffic across hundreds of rollups. According to the team, existing solutions are too slow and expensive for the next generation of applications on Ethereum. As we enter this new era, interoperability solutions must complement their speed and efficiency. Real-time apps require real-time interoperability.Polymer aims to build the fastest and most efficient interoperability protocol for next-generation rollups like MegaETH