Squid Raises $6M Led by North Island Ventures to Advance Cross-Chain Infrastructure

Ripple's RLUSD stablecoin is now available for native swaps across 7 blockchain networks through Squid's cross-chain infrastructure. **Key Details:** - RLUSD is a fully-backed USD stablecoin designed for real-time, compliant payments - Currently processes billions in monthly volume with over $1.8B market cap - Multi-chain expansion powered by Squid's cross-chain swap technology - Enables seamless fiat-to-stablecoin on/off ramps for exchanges and fintechs **What This Means:** The integration allows users to swap into native RLUSD across multiple chains without complex bridging processes. Squid's infrastructure leverages existing DEXs and Axelar's message passing to enable one-click transactions between different blockchain networks. This expansion makes RLUSD more accessible across the crypto ecosystem, supporting its position as one of the fastest-growing USD stablecoins globally.

**Ripple's RLUSD stablecoin is now accessible across multiple blockchains through Squid's integration.** The regulated USD-backed stablecoin, which has surpassed $1.8bn market cap and billions in monthly volume, can now move instantly between XRPL, Ethereum, Base, Optimism, and other chains. **Key capabilities enabled:** - Instant cross-chain swaps and transfers - Direct swaps from USDC, USDT, ETH, XRP to RLUSD - Single-transaction execution via Squid Intents - Access through [Squid's app](http://app.squidrouter.com) and [developer tools](http://docs.squidrouter.com) **Day-one integrations include:** - Strobe Finance (XRPL money market) - Girin Labs (real payments with Visa) - D'CENT Wallets (multichain swaps) - Ondex (self-custodial wallet) - Risepad (token launchpad) Squid Intents powers the routing through on- and off-chain liquidity sources, offering tighter quotes, fewer failures, and automatic refunds within 15 minutes if transactions fail. The integration supports capital onboarding, cross-chain payments, DeFi access, and enterprise on/off-ramps. [Read more about the integration](https://www.squidrouter.com/blog/squid-powers-ripple-USD-cross-chain)

**Squid has announced strategic funding** to support its continued growth as a cross-chain routing solution. **Key highlights:** - The funding will enable expansion to new chains and development of additional features - Squid's growth reflects the increasing complexity of navigating the multi-chain crypto ecosystem - The platform focuses on user experience, allowing seamless token swaps and transfers across different blockchains - Team hints at new products in development beyond current routing capabilities Squid's cross-chain infrastructure enables users to interact with applications across different chains without multiple transactions or wallets. The strategic investment positions the protocol to scale alongside the broader crypto ecosystem's expansion. [Read the full announcement](https://www.squidrouter.com/blog/squid-strategic-funding)

**Cross-chain infrastructure protocol Squid has closed a strategic funding round** led by North Island VC, with participation from notable investors including: - **Major VCs**: Ripple, Dialectic Group, Borderless Capital, and Scenius Capital - **Strategic angels**: Representatives from Axelar, Ledger, Polymer Labs, Enso, and Peanut The funding builds on Squid's previous backing from prominent investors like a16z, Coinbase Ventures, Variant, Pantera, and Brevan Howard. **What Squid does**: The protocol enables seamless token swaps and transfers across different blockchains using existing DEXs. Users can execute cross-chain transactions—from buying NFTs to accessing DeFi protocols—without multiple wallet signatures or complex processes. The strategic nature of this round, featuring both infrastructure providers and application-layer projects, signals growing institutional interest in cross-chain interoperability solutions.