Cybrid, a platform specializing in compliant stablecoin and fiat payment infrastructure, has secured a $10 million Series A funding round. The investment was led by the Growth Venture Fund at BDC Capital, with additional participation from Golden Ventures, Luge Capital, and Panache Ventures. This funding is intended to advance Cybrid’s objective of establishing stablecoins as a preferred solution for financial institutions, cross-border remittances, and B2B payments.
Cybrid’s platform integrates stablecoin, fiat, and compliance capabilities through a single API. This approach has supported financial institutions, fintechs, and businesses in the U.
S. and Canada in implementing stablecoin infrastructure. The company facilitates end-to-end cross-border payment solutions to over 150 countries, aiming for up to 90% lower costs and enhanced transparency. Cybrid reported a 5x growth in the past 12 months.
Avinash Chidambaram, Co-Founder and CEO of Cybrid, stated, “Stablecoins are becoming the backbone of how currency moves across borders and between businesses in near real time, and at a fraction of the cost of sending money over the traditional networks. At Cybrid, we’ve built the intelligent payment infrastructure that fintechs, enterprises, and financial institutions need to adopt stablecoins at scale, with compliance baked in. This funding allows us to accelerate our mission and bring the benefits of faster, more transparent, and lower-cost payments to businesses worldwide.”
Global stablecoin payment volume has recently doubled year-over-year, reaching $5.7 trillion, which represents 25% of card network volume. Despite this growth, companies in cross-border remittance, B2B payments, and financial institutions frequently encounter challenges such as high international transaction fees, slow settlements, regulatory complexities, fragmented systems, and difficulties in scaling operations across diverse regions.
Cybrid’s senior leadership team includes Avinash Chidambaram, who previously helped introduce tokenized payments to Canada through ApplePay and held product and platform development roles at Interac and BlackBerry. Brent Carrara, Co-founder and Chief Technology Officer, is recognized for his expertise in biometrics, cryptography, and security. Michael Carrara, Co-founder and Principal Engineer, has experience from Bread Wallet (acquired by Coinbase) and BlackBerry. Dean Brauer, President and Chief Operating Officer, co-founded and scaled the financial education and kids banking app GoHenry (acquired by Acorns in 2023). Ali Irshad, Co-founder and VP of Sales, joined from Airmeet.
Jack Fraser, Partner with BDC Capital’s Growth Venture Fund, commented, “Stablecoins are poised to transform global cross border payments, especially across financial institutions and the B2B payments space where speed and cost matter most. The team at Cybrid has direct expertise in building best-in-class payments and banking infrastructure, with compliance at its core, for world class financial services and fintech brands. They have delivered best-in-class payments and banking infrastructure to customers and bring deep experience in the digital asset space, which is why we’re proud to lead this round.”
Cybrid is scheduled to attend Money 20/20 USA from October 26 to October 29.
