Toronto-based Cybrid has raised $10 million USD in a Series A round led by BDC Capital’s Growth Venture Fund, with participation from Golden Ventures, Luge Capital, and Panache Ventures. The payments startup provides stablecoin infrastructure for enterprises and financial institutions, allowing blockchain-powered cross-border transactions.
CEO Avinash Chidambaram said the company’s growth has quintupled over the past year as adoption accelerates. Cybrid, now a registered payment service provider with the Bank of Canada, aims to expand across Europe. The round strengthens Canada’s push toward regulated stablecoin innovation amid growing calls for federal oversight.
Want to know more? Check out the source code on BetaKit.