Squid
Squid is a cross-chain routing and execution platform that aggregates bridges, DEXs, and messaging protocols to enable token swaps across 100+ blockchains. Its intent-based engine powers consumer apps, developer SDK/API integrations, and bespoke institutional infrastructure for wallets, chains, and asset issuers globally.
- Company typePrivate
- Founded2022
- HeadquartersZug, Switzerland
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Squid does
Squid is a cross-chain routing and execution platform headquartered in Zug, Switzerland (operating as Epiphyte Ltd.), founded in 2022. It aggregates bridges (Axelar, CCTP, IBC, Chainflip, LayerZero), 130+ DEXs, and messaging protocols to enable token swaps, bridging, and routing across 100+ blockchains and 20,000+ tokens in a single transaction. Its proprietary technology stack includes Squid Intents/CORAL, an intent-based execution engine using Trusted Execution Environments for offchain coordination and hub-and-spoke settlement that delivers sub-second quotes, MEV protection, and constant gas costs as volume scales. Squid 2.0 adds a graph-based routing architecture with pre/post-transaction hooks for bundled flows. To date, Squid has routed $6B+ in cumulative volume across 4M+ transactions for 1M+ users, embedded in 1,000+ applications.
The company sells across three primary go-to-market motions: a self-serve consumer Bridge App (also featuring a Stripe-powered fiat onramp and a MiniPay Mini App for tokenized gold); an API-first developer platform offering REST API, JavaScript SDK, and drop-in Widget used by wallets and apps such as MetaMask, Ledger, Brave, LI.FI, and Keplr; and a direct-sales bespoke institutional infrastructure layer used by Circle (USDC/EURC) and Ripple (RLUSD) for stablecoin and payment flows. Revenue is generated primarily through variable protocol fees on swaps (zero on stablecoins), developer/API fee-collection monetization, and custom institutional contracts. Squid has completed 9 security audits with zero exploits on its core protocol since launch.
The company is founder-led by Fig (business development and product), Xtina/Christina Norgard Rud (growth and operations), and Koda (engineering), with 11-50 employees. It has raised approximately $13.5M across three rounds: a $3.5M seed (January 2023, North Island Ventures lead), a $4M strategic (January 2024, Polychain Capital lead), and a $6M strategic (May 2026, North Island Ventures lead with Ripple participation). Major partners and integrators include Ripple, Circle, MetaMask, Ledger, Brave, MiniPay, Peanut, Axelar, Stripe, and Keplr, with emerging-market reach extending across 66+ countries via MiniPay.
Squid firmographics
Firmographics- Name
- Squid
- Legal name
- Epiphyte Ltd.
- Website
- https://squidrouter.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Squid is a cross-chain routing and execution platform that aggregates bridges, DEXs, and messaging protocols to enable token swaps across 100+ blockchains. Its intent-based engine powers consumer apps, developer SDK/API integrations, and bespoke institutional infrastructure for wallets, chains, and asset issuers globally.
- Ownership category
- akta.pro rank
Squid industry classification
Industry- Product category
- Cross-chain Routing and Bridge Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- DEX Aggregators & Smart Order Routing (FSAPADAC)
- akta.pro secondary industries
- DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading) (FSAPAEAD), DEX Aggregators & Smart Order Routing (FSADABAC), DEX Analytics, Indexers & Trading Terminals (FSADABAK)
Keywords
Where Squid is headquartered
LocationHeadquarters
- HQ city
- Zug
- HQ country
- Switzerland
- HQ region
- Europe
Offices1 record
Markets served
Squid business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Cross-chain swap transaction fees: Protocol fees charged on swaps routed through Squid; fees are variable depending on the route and asset type. Zero fees on stablecoin swaps. Includes network gas costs.
- Developer/API integration monetization: Built-in fee collection in the SDK/API/widget allows integrators to monetize cross-chain features in their own products by charging fees on top of Squid's routing.
- Bespoke institutional infrastructure (Spot Exchange, Payments, Asset Issuers, Compliance): Custom-built solutions for stablecoins, FX, RWAs, private chains, and compliance-specific flows — built for institutions and large-scale partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Cross-chain swap with variable protocol fee + gas; zero fees on stablecoin swaps |
| Other | Pay-as-you-go | Developer SDK/API/Widget — built-in fee collection enables integrators to monetize |
| Transaction based/ take rate | Pay-as-you-go | Fiat onramp via Stripe (credit/debit card, Apple Pay) |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Squid product offering
Product offeringCore offering
Squid is a cross-chain routing and execution platform that aggregates bridges, DEXs, and messaging protocols (Axelar, CCTP, IBC, Chainflip, LayerZero) to let users and developers swap, bridge, and route digital value across 100+ blockchains in a single transaction. Its intent-based execution engine (Squid Intents / CORAL) runs real-time solver auctions inside Trusted Execution Environments with hub-and-spoke settlement, delivering sub-second quotes, ~5-second execution, MEV protection, and 90% lower gas than legacy bridge architectures. Squid monetizes via protocol fees on routed swaps, developer SDK/API/widget integrations (with built-in fee collection), fiat onramp margins, and bespoke institutional infrastructure.
Product overview
Squid is a unified cross-chain platform with a platform-plus-modules architecture: a single routing and execution engine powers an integrated stack of consumer, developer and institutional products. The core engine (originally Squid 1.0, rebuilt as Squid 2.0 with graph-based architecture, and now extended with the Squid Intents intent-based settlement protocol) sits underneath the consumer-facing Squid Bridge App (which also hosts Squid Wallet View, the Squid fiat onramp, and the Squid Mini Apps inside MiniPay), the developer-facing Squid API, Squid SDK, Squid Widget, and Widget Studio, the chain/token onboarding program Squid Connect, the AI-facing Squid MCP server, supporting tools such as SquidScan and Squid Stats, and the Squid School education hub. All products share the same routing engine aggregating bridges (Axelar, CCTP, IBC, Chainflip, LayerZero) and 130+ DEXs to enable swaps, bridges, and full cross-chain payment flows across 100+ chains and 20,000+ tokens.
Differentiator
Problem solved
Functional benefit
Brands
- CORAL: Cross-Chain Order Routing and Auction Layer; Squid's intent-based execution layer offering 90% lower gas, near-instant finality, zero slippage, and MEV protection.
- Squid Intents
Products and services
- Squid Bridge App Front-end web application at app.squidrouter.com that lets individual users swap, bridge, and route value across 100+ chains and 20,000+ tokens in a single transaction; also hosts Wallet View and the fiat onramp.
- Squid API RESTful, language-agnostic API endpoints exposing Squid's routing engine for backend integrations; supports custom application flows across chains with sdk-info, route, and status calls.
- Squid SDK JavaScript/TypeScript SDK (npm install @0xsquid/sdk) that gives developers programmatic control for custom integration of cross-chain and single-chain swaps with hooks and built-in fee collection.
- Squid Widget Drop-in widget (iframe or native React/NextJS/Vite integration) that lets any app embed Squid's bridge and swap flow with minimal code.
- Squid Intents Intent-based execution engine running real-time solver auctions with Trusted Execution Environments and hub-and-spoke settlement; delivers sub-second execution, near-zero slippage, and MEV protection for cross-chain swaps.
- Squid MCP Model Context Protocol server connecting AI assistants (Claude Desktop, Claude Code) to Squid's cross-chain swap infrastructure so users can describe swaps in natural language for quoting, routing, balance checks, and execution on EVM chains.
- Squid Connect Program for chains and token issuers to plug into Squid's network, gaining access to 1M+ users, liquidity across 100+ chains, and distribution through 1,000+ integrators; supports EVM, non-EVM, SVM, app-chains, and non-smart-contract chains.
- SquidScan Cross-chain transaction explorer at scan.squidrouter.com for inspecting and tracking swaps routed through Squid.
- Squid Stats Public analytics dashboard at squidrouter.com/stats sourced from onchain settlement records, showing total volume, transactions, average transaction size, unique users, top sources/destinations, and weekly active users.
- Widget Studio Online studio at studio.squidrouter.com for configuring and customizing the Squid embeddable widget for partner apps.
- Bespoke Institutional Infrastructure Custom-built infrastructure for Spot Exchange, Payments, Asset Issuers, and Compliance use cases covering stablecoins, FX, RWAs, and private chains; built for institutions and large-scale partners via a direct sales motion.
- Squid Mini App (on MiniPay) In-wallet Mini Apps built with MiniPay (Opera) on Celo for buying and selling tokenized gold (XAUt0), BTC, ETH, and CELO; powered by Squid's DEX aggregation and liquidity sourcing.
Quantifiable outcome
- $6B+ safely routed in cross-chain transaction volume since 2023
- +12 more outcomes
Companies that use Squid
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Squid technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability6 records
Feature6 records
Squid partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered flagship strategic partner, new chain integration, flagship co-development partner, core technology partner, flagship case study / co-marketing, flagship integration, featured integration, ecosystem partner and infrastructure vendor.
- Rippleflagship strategic partnerSquid powers payments and interoperability for Ripple USD (RLUSD), enabling instant multichain movement across XRPL, Ethereum, Base, Optimism, and beyond. Also powered the XRPL EVM Sidechain launch on June 30, 2025 — the first time XRP could be bridged from any chain.
- Tempo (Blockchain for Payments)new chain integrationSquid is live on Tempo blockchain; users can bridge and swap to Tempo from any chain via Squid.
- MiniPay (Opera)flagship co-development partnerDeep partnership building in-wallet Mini Apps for buying tokenized gold (XAUt0), BTC, ETH, and CELO on Celo. 164,000+ purchases from 88,000+ users across 66+ countries. Featured by Celo Foundation as an ecosystem example.
- Circleflagship strategic partnerSquid enables EURC transfers across Base, Ethereum, Avalanche, and Celo and aggregates CCTP for USDC. Co-published an integration guide and case study.
- Axelarcore technology partnerAxelar is the foundational cross-chain messaging and bridging protocol Squid was incubated in and continues to rely on as a backbone. Squid aggregates Axelar among other protocols (CCTP, IBC, Chainflip, LayerZero) for routing.
- Peanutflagship case study / co-marketingPeanut integrated the Squid SDK to power cross-chain payment links. Squid collapsed settlement from minutes to seconds and Peanut drove over $5 payment links to mainstream adoption in LatAm. Featured jointly as a flagship case study.
- MetaMaskflagship integrationWorld's most popular self-custody wallet (30M+ MAU) integrates Squid's cross-chain routing as a featured integration partner.
- Ledgerflagship integrationIndustry-standard hardware wallet integrates Squid routing. Ledger is also an angel investor.
- Bravefeatured integrationBrowser wallet integrates Squid's cross-chain functionality.
- LI.FIecosystem partnerCross-chain aggregation protocol connecting bridges, DEXs, and solvers; listed as featured ecosystem partner.
- Keplrecosystem partnerGo-to Cosmos wallet integrating Squid's cross-chain routing.
- Stripeinfrastructure vendorStripe powers Squid's fiat onramp for credit/debit card and Apple Pay purchases across 80+ chains with 130+ local payment methods.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Squid competitors and assessment
Company assessmentBroad incumbents
- Wormhole: Wormhole is a cross-chain messaging protocol that Squid could aggregate. It is comparable as a foundational interoperability primitive; its expansion into cross-chain swap products (e.g., Wormhole Port, Portal) makes it a partial competitor to Squid for cross-chain value transfer.
- Axelar: Axelar is Squid's backbone technology partner and an investor — a foundational cross-chain messaging and bridging protocol. Axelar is comparable as a primitive layer beneath Squid's routing engine, and as an incubator, it could expand further into execution and compete with Squid.
- LayerZero: LayerZero is a cross-chain messaging protocol that Squid aggregates as one of its underlying routing pathways. It is comparable to Squid as a foundational cross-chain primitive but operates at a lower (messaging) layer; if it expands into execution/routing, it could compete with Squid directly.
Direct peers
- Rango Exchange: Rango is a direct competitor — a cross-chain DEX and bridge aggregator that routes swaps across 50+ chains and dozens of bridges/DEXs. Rango and Squid target the same wallet/DeFi integrator customers and overlap on aggregation, smart routing, and intent-based execution.
- deBridge: deBridge is a direct competitor in cross-chain liquidity transfer and aggregation, offering a messaging protocol, bridge, and execution layer across EVM and non-EVM chains. It competes with Squid for institutional and wallet routing flows, particularly in cross-chain swaps and stablecoin transfers.
- 1inch Network: 1inch is a leading DEX aggregator (single-chain and cross-chain) that uses smart order routing across 100+ liquidity sources. While primarily single-chain, 1inch's Fusion+ and cross-chain expansion make it a comparable aggregator to Squid, though Squid's primary differentiation is multi-chain and intent-based.
- LI.FI: LI.FI is a direct competitor — a cross-chain DEX/bridge aggregator that offers API, SDK, and widget integrations for embedding cross-chain swaps, bridging, and routing into wallets and dApps. Squid and LI.FI are both listed as ecosystem partners in each other's materials, and they overlap heavily on target customers (wallets, DeFi apps) and on aggregation across bridges like Axelar and LayerZero.
- Symbiosis Finance: Symbiosis is a direct competitor in cross-chain AMM and routing, aggregating liquidity across EVM and non-EVM chains via a single swap interface. It competes with Squid on cross-chain token swaps and routes through bridges such as LayerZero.
- Socket (Socket Protocol): Socket is a direct competitor — a B2B cross-chain interoperability protocol offering an aggregator and Orderbook for swapping and bridging across chains. It targets the same wallet and dApp integrator customer base as Squid and is funded by Coinbase Ventures and other tier-1 investors.
Emerging players
- Across Protocol: Across is a cross-chain bridge and intent-based protocol using an optimistic relayer model for fast, cheap transfers. Across is partially comparable to Squid — it provides a specific cross-chain primitive that Squid aggregates, and both compete in intent-based cross-chain execution, particularly on Ethereum and L2s.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
Squid social profiles
Digital presenceSquid compliance and trust
Trust signalCompliance3 records
Squid financial estimates
Financial estimateRevenue estimate
Valuation estimate
Squid leadership team
Management profileNumber of profiles
Profiles3 records
Squid funding detail
Funding detailFunding overview
Funding rounds3 records
Investors22 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Squid M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Squid
What does Squid do?
Squid is a cross-chain routing and execution platform that aggregates bridges, DEXs, and messaging protocols (Axelar, CCTP, IBC, Chainflip, LayerZero) to let users and developers swap, bridge, and route digital value across 100+ blockchains in a single transaction. Its intent-based execution engine (Squid Intents / CORAL) runs real-time solver auctions inside Trusted Execution Environments with hub-and-spoke settlement, delivering sub-second quotes, ~5-second execution, MEV protection, and 90% lower gas than legacy bridge architectures. Squid monetizes via protocol fees on routed swaps, developer SDK/API/widget integrations (with built-in fee collection), fiat onramp margins, and bespoke institutional infrastructure.
Is Squid a public or private company?
Squid is a private company. It is classified as venture growth investor backed and is currently operating.
When was Squid founded?
Squid was founded in 2022. It employs 11 to 50 people.
Where is Squid based?
Squid is headquartered in Zug, Switzerland, in the Europe region.
How does Squid make money?
Three revenue lines are on record. Cross-chain swap transaction fees are the primary driver. The others are developer/API integration monetization and bespoke institutional infrastructure (Spot Exchange, Payments, Asset Issuers, Compliance).
Who are Squid's main competitors?
Broad incumbents on record are Wormhole, Axelar and LayerZero. Direct peers are Rango Exchange, deBridge, 1inch Network, LI.FI, Symbiosis Finance and Socket (Socket Protocol). Across Protocol is listed as an emerging player.
Does Squid have an API?
Yes. Squid offers three integration paths: a REST API for full backend control (language-agnostic), a JavaScript/TypeScript SDK for faster implementation (npm install @0xsquid/sdk), and a drop-in widget embeddable in apps. All three support cross-chain and single-chain swaps, pre- and post-transaction hooks for custom logic, built-in fee collection, and handle wallets, RPCs, gas, and DEX aggregation under the hood. Squid MCP (Model Context Protocol server) is also available, letting AI assistants like Claude execute cross-chain swaps via natural language (currently supporting EVM chains). Developer documentation is at docs.squidrouter.com.
What industry is Squid in?
Squid's product category is Cross-chain Routing and Bridge Infrastructure. Its primary akta.pro industry code is FSAPADAC, DEX Aggregators & Smart Order Routing, with a secondary code of FSAPAEAD, DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading). Its NAICS code is 522320 and its SIC code is 6200.