Blockchain
Cybrid Raises USD $3.1 Million to Embed Crypto and DeFi Experiences Within Fintech Platforms
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 improving financial services for everyday consumers,” said Avinash Chidambaram, Co-Founder and CEO of Cybrid. “Cybrid is removing the complexity that would ordinarily be required for our customers to offer crypto products, which are increasing in demand every day.”
The Cybrid platform is architected to deliver the industry’s best B2B development experience, making integration of the growing crypto ecosystem into traditional finance or web2 products a breeze. The platform offers more than just a traditional API. It includes fully cross-platform SDKs for Apple, Android and web platforms, including drop-in user interface components that can be themed and customized by partners. This dramatically reduces the time and cost of development, enabling organizations to launch a crypto offering in weeks.
“Golden Ventures was attracted to Cybrid’s incredible team, and deep bench of product engineering talent. Cybrid is building the future of financial services that will one day seem obvious in hindsight,” said Ameet Shah, General Partner at Golden Ventures.
“Cybrid is the connection between traditional financial products and the future of finance,” said Karim Gillani, Co-Founder and General Partner at Luge Capital. “Avinash and Brent have assembled the dream team, and they’re laser-focused on simplifying access to crypto and DeFi.”
About Cybrid
Cybrid is a B2B crypto infrastructure platform that empowers neobanks, financial institutions and payment providers to easily integrate cryptocurrency and DeFi capabilities into their products. Cybrid’s white-glove tooling is built by developers, for developers, and eliminates the complexity and high cost typically associated with building a cryptocurrency offering.
Cybrid works closely with its B2B partners to help them understand the cryptocurrency ecosystem and determine the best way to integrate crypto into their offerings. Cybrid is headquartered in Toronto, Canada and is backed by venture investors including Golden Ventures, Luge Capital and Harvest Venture Partners.
Cybrid Contact
Avinash Chidambaram
+16472026108
[email protected]
[email protected]
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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