Toronto, Ontario--(Newsfile Corp. - April 7, 2022) - Cybrid Technology Inc, the crypto banking-as-a-service provider, today announced that it has secured USD $3.1 million in seed financing to support the expansion of its developer-focused crypto platform for fintechs and challenger banks. The investment was led by Golden Ventures, with participation from Luge Capital and Harvest Venture Partners.
Founded in June 2021, Cybrid will use the new funds to grow the team and continue development of its B2B developer-focused cryptocurrency infrastructure. The platform enables fintechs and other enterprises to easily launch crypto capabilities to their end users. For example, Cybrid enables direct-to-consumer crypto investing, access to DeFi savings accounts, attaching crypto to points programs and other modern financial services. The platform is architected to provide easy access to the realm of decentralized finance (DeFi), which is notoriously complicated to enable directly. Registrations for platform access have been growing steadily since January 2022. Interested organizations can get started in minutes via the Cybrid developer sandbox.
The trillion dollar cryptocurrency industry presents untapped opportunities such as new revenue streams or enhanced customer retention for fintechs, challenger banks, payment processors, rewards companies and small business financial service providers. "Easy, developer-friendly access to the world of crypto and DeFi is the core ingredient to...
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