Squid Raises $4m to Expand the Capabilities of the Cross-Chain Do-Anything Layer
ZUG, Switzerland , Jan. 31, 2024 /PRNewswire/ -- Squid, the cross-chain do-anything router, today announces $4m in strategic funding led by Polychain Capital with participation from Nomad Capital, North Island Ventures, Maelstrom, Chorus One, The Department of XYZ, Breed, Binary Builders, and Typhon Ventures, along with follow-on investments from Distributed Global, Fabric Ventures, Node Capital, and Chapter One. Squid has established itself as the fastest, most frictionless, and most secure way to swap tokens across blockchains, empowering users of thousands of assets on over 60 chains. This raise enables the team to continue its expansion in supporting chains in the EVM and Cosmos ecosystems and beyond. Additionally, the team will build deeper integrations with more decentralized applications (dApps), allowing users to easily interact with those applications in a wide variety of ways, including depositing into DeFi positions, purchasing NFT collectibles and in-game items, and more.
- This raise enables the team to continue its expansion in supporting chains in the EVM and Cosmos ecosystems and beyond.
- "Our vision for Squid is to create the UX layer for interoperability among blockchains and the apps built on them," said Christina Rud, Co-Founder of the protocol.
- With this raise, Squid will accelerate development to enable more complex bundling of transaction sequences and more efficient routing of assets.
- Additionally, the team is building integrations with more interoperability networks and has its sights set on bringing Squid to more blockchain ecosystems beyond Ethereum and Cosmos.