Squid Raises $3.5 Million To Build Next-Generation Cross-Chain Swaps

Jan 31, 2023•over 2 years ago

Amount Raised

$3.5 Million

Round Type

seed

Zug

Investors

Axelar Developer Grants CohortAxelarAshleigh Schap7Dean EigenmannZaki ManianStani KulechovWaikit LauNode CapitalChapter OneGalileoFabric VenturesDistributed GlobalNorth Island Ventures

Description

Squid, a routing protocol that enables users and developers to easily access cross-chain liquidity, has raised a $3.5m seed round led by North Island Ventures.

Company Information

Company

Squid

Location

Zug, Switzerland

About

Squid inherits its speed and security from Axelar's secure cross-chain communication platform alongside General Message Passing, meaning that Squid's contracts enable further cross-chain logic. Squid can be used to buy NFTs on any chain with any asset, deposit into a margin account on a decentralized derivatives exchange, build payments to any chain, or to turn wallets chain-agnostic. Squid supports 25 blockchains, including EVM and Cosmos chains. Since its app chain thesis became a reality, Cosmos has experienced immense growth and adoption. Squid offers the easiest path for onboarding to new Cosmos chains from any ecosystem. Squid has received four audits from Ackee Blockchain and Consensys Diligence.

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