TheBlock
Cross-chain infrastructure platform Squid has closed a $6 million funding round backed by Ripple and North Island Ventures, signaling continued institutional appetite for interoperability tooling even as broader venture activity in crypto remains selective.
Squid operates as a cross-chain routing and liquidity layer, enabling assets and messages to move between blockchains without requiring users to manage multiple bridges manually. The backing from Ripple — itself a payments-focused blockchain company — adds strategic weight alongside North Island Ventures' financial capital.
The raise reflects a broader thesis gaining traction among serious infrastructure investors: that the multi-chain future is already here, and the real value accrues to the plumbing that connects fragmented liquidity across ecosystems rather than to any single chain.
Frequently asked questions
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What specific role does Squid play in cross-chain transactions?
Squid serves as a cross-chain routing and liquidity layer, facilitating the movement of assets and messages between blockchains without users needing to manage multiple bridges.
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How does Ripple's involvement impact Squid's operations?
Ripple's backing provides strategic support to Squid, enhancing its credibility in the cross-chain infrastructure space, which is crucial for interoperability.
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