In the vast, murky waters of the crypto ocean, where fortunes rise and fall like the tides, Ripple has cast its net into the $6 million funding pool for Squid, a cross-chain platform that promises to simplify the labyrinthine task of moving assets across blockchains. Ah, the modern world-where even money needs a passport and a visa.
- North Island Ventures, ever the intrepid explorer, led this strategic voyage, with Ripple, Dialectic, and Borderless tagging along. A motley crew, indeed.
- Squid, since its humble launch in January 2023, has routed over $6 billion in volume through 4 million transactions. Not bad for a creature known for its ink.
- With this fresh $6 million, Squid’s treasure chest now holds $13.5 million, enough to fund its grand ambitions of consumer-facing product expansion. Let’s hope they don’t squander it on digital trinkets.
Squid, the cross-chain platform with a name that evokes both the ocean’s mysteries and the office supply aisle, has secured $6 million to build products that make moving assets across blockchains as simple as ordering a cup of tea. North Island Ventures led the charge, joined by Ripple, Dialectic, Borderless, and a host of others with names that sound like they were plucked from a Silicon Valley bingo card.
Even angel investors, those celestial beings of the financial world, have descended upon Squid. Axelar co-founder Georgios Vlachos, Enso Finance founder Connor Howe, and Constructive founder Dan Lynch have all thrown their halos into the ring. Squid’s enigmatic co-founder, Fig-a name that suggests both fruit and obscurity-remained tight-lipped about the valuation. Secrets, secrets are no fun, Fig.
Squid’s Vision: Crypto Without the Headache
“The vision is to make directly accessing whatever you need in crypto as simple as the cross-chain swaps Squid already handles today,” Fig told The Block, presumably while sipping a latte in a dimly lit café. Ah, the life of a pseudonymous founder-all mystery, no accountability.
Squid’s application allows users to move assets across blockchains-Bitcoin, Ethereum, Solana, Cosmos, and the XRP Ledger-in a single transaction. It’s like a universal translator for money, minus the awkward first-contact scenarios. Ripple’s investment is a natural extension of its existing partnership with Squid, which serves as the official bridge partner for the XRP Ledger. Synergy, they call it. Or is it symbiosis? I’ve lost track.
We are proud to announce that Squid has raised $6M in funding round led by North Island Ventures and backed by strategic investors!
Our new chapter has begun, with more news coming soon. Today we celebrate and say thank you. CHEERS 💫
– squid (@squidrouter) May 22, 2026
Since its launch, Squid has processed over $6 billion in volume through 4 million transactions, serving over one million users. Its execution layer, Squid Intents, uses market makers to fill cross-chain transactions and settles them through trusted execution environments. No need for smart contracts on every chain-because who has time for that? This architecture supports over 100 networks, making Squid the octopus of the crypto world, tentacles everywhere.
The round brings Squid’s total funding to $13.5 million, following earlier rounds in 2023 and 2024. The team, a modest group of 20, is not hiring. Perhaps they’re waiting for the right candidate-someone who can juggle blockchains and bureaucracy with equal finesse.
Ripple’s investment fits neatly into its broader strategy of bolstering the XRP Ledger ecosystem. As crypto.news reported, JPMorgan, Mastercard, and Ripple recently tested tokenized Treasury settlement on XRPL. Meanwhile, the XRP Alliance launched to build yield products for XRP holders. It’s all very exciting, if you’re the type who finds financial innovation thrilling. I, for one, prefer my thrills in the form of a good novel.
Squid promises to reveal more about its consumer roadmap in the coming months. Until then, we’ll wait with bated breath-or perhaps just a mild curiosity. After all, in the world of crypto, tomorrow’s revolution is yesterday’s news.
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2026-05-23 01:23