Squid joins Korea's OBDIA to push stablecoin, cross-chain rails

Squid launched in 2023. The company says it has processed more than $6 billion in cumulative cross-chain transaction volume across more than 100 blockchains, including Ethereum (ETH), Solana (SOL) and the XRP Ledger. It aggregates liquidity from roughly 150 decentralized exchanges. Squid reports more than 1 million cumulative users and around 1,000 business integrations.

The company's recent $QUID token sale drew roughly $26.66 million in applications within 72 hours, about 11.9 times the hard cap, Squid said. The company plans to use that capital for what it calls the "next phase" of ecosystem growth and is preparing a consumer-facing service.

OBDIA membership follows Squid's May 2026 launch of a payments and interoperability service for Ripple's RLUSD stablecoin. Squid co-founder Fig told Korean media the company intends to extend its cross-chain infrastructure to won stablecoins once regulation is in place, adding the same rails could support tokenized Korean assets.

Squid recently announced cooperation with AhnLab Blockchain Company and D'CENT hardware wallet. The company said it is engaging on cross-chain initiatives tied to domestic financial institutions' work on real-world asset tokenization and stablecoin infrastructure. Squid said it will work with OBDIA members to define use cases for Korea's financial market and build connective rails for the country's institutional digital asset sector.