Cross-chain infrastructure Squid completes $6 million funding round, led by North Island Ventures

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BlockBeats News, May 23 — Cross-chain infrastructure Squid announced the completion of $6 million in funding. This round was led by North Island Ventures, with participation from institutions including Ripple, Dialectic, Borderless Capital, and Scenius Capital. Angel investors from projects such as Axelar, Ledger, Polymer Labs, Enso, and Peanut also participated in and supported the initiative.

Squid said that since going live, it has processed more than $6 billion in transaction volume, completed over 4 million transactions, and serves more than 1 million users worldwide. At present, Squid is connected to more than 100 chains, more than 20,000 tokens, and over 130 DEXs.

The team revealed that it will continue expanding to new chains, users, functions, and products in the future, and hinted that mobile-related products are about to be launched.

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AncientKeysUnlockNewChains
· 5h ago
Squid's recent funding round features quite a luxurious lineup, with Axelar and Ledger both participating, making the cross-chain race highly competitive.
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OrigamiMountainsAndRivers
· 6h ago
North Island Ventures leads the investment, Ripple also invests, this combination is quite interesting
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RugPullEnjoyer
· 6h ago
6 million dollars isn't a lot, but a 6 billion trading volume really packs a punch. Looking forward to the mobile version.
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HexiHoodie
· 8h ago
Cross-chain bridges are most afraid of security incidents; Squid must ensure security is well handled.
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BlackVelvetKeychain
· 8h ago
A trading volume of 6 billion looks impressive, but the revenue model for cross-chain bridges still needs to be validated.
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MirrorBallReflection
· 8h ago
If the mobile version is developed, the user experience can be elevated to the next level.
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0xLateAgain
· 8h ago
Over 130 DEX integrations, managing liquidity effectively
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SushiLatency
· 8h ago
How many of the one million users are truly active? Need to put a question mark.
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0xTeaTime
· 8h ago
The financing amount isn't large, but the ecosystem partners are all solid assets.
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PaperSculptureSquidward
· 8h ago
Peanut also acts as an angel investor in MEV projects, cross-chain + MEV has potential.
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