In an era where cross-border payments are often slow, costly, and riddled with inefficiencies, Cybrid, a fintech startup based in Newark, New Jersey, is positioning itself as a game-changer. The company has successfully raised $10 million in a Series A funding round, led by BDC Capital’s Growth Venture Fund, with additional backing from Golden Ventures, Luge Capital, and Panache Ventures. This funding marks a significant milestone in Cybrid’s mission to redefine global payments, using stablecoins as a faster, cheaper, and more compliant alternative to traditional financial systems.
Bridging the Gap Between Traditional Finance and the Digital Future
Cybrid’s innovation lies in its API-first platform, which integrates stablecoin, fiat, and compliance features into a single solution. By providing financial institutions, remittance companies, and B2B payment providers with the infrastructure to deploy stablecoins at scale, Cybrid is tapping into a rapidly expanding market. Stablecoin transaction volumes have already doubled year-over-year, now reaching an astonishing $5.7 trillion—around 25% of card network volumes.
The company’s offering addresses multiple pain points in the payments ecosystem, including high international transaction fees, sluggish settlement times, and complex regulatory hurdles. In just 12 months, Cybrid has achieved a five-fold growth, underscoring the increasing demand for its platform, which now serves over 150 countries. Notably, it enables cross-border transactions at up to 90% lower costs, with full transparency—a critical advantage for businesses that need to manage costs while maintaining operational agility.
Avinash Chidambaram, Co-Founder and CEO of Cybrid, highlights the company’s mission succinctly: “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. This funding allows us to accelerate our mission and bring the benefits of faster, more transparent, and lower-cost payments to businesses worldwide.”
Cybrid’s unique value proposition is particularly resonant in a world where high fees and slow processing times remain the norm in cross-border payments. The company aims to transform this landscape by enabling organizations to adopt stablecoins, a move that would significantly reduce the friction in global transactions.
A Strong Leadership Team with Deep Industry Expertise
Cybrid’s leadership team brings extensive expertise from top-tier financial institutions and fintech companies. Avinash Chidambaram, who previously played a pivotal role in launching Apple Pay in Canada and held senior positions at Interac and BlackBerry, co-founded the company with Brent Carrara, an expert in biometrics, cryptography, and security. Together, they’ve created a platform that combines cutting-edge technology with regulatory compliance to address the specific needs of financial institutions and fintechs.
The team also includes Michael Carrara, who co-founded Bread Wallet (acquired by Coinbase) and worked at BlackBerry, as well as Dean Brauer, who co-founded GoHenry, a financial education and banking app for children, which was acquired by Acorns in 2023. This depth of experience provides Cybrid with a competitive edge in navigating both the technical and regulatory challenges of the digital payments space.
Jack Fraser, Partner at BDC Capital’s Growth Venture Fund, encapsulates Cybrid’s potential: “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.”
The Road Ahead: A $10M Inflection Point for Cybrid’s Global Vision
As Cybrid continues to grow, the $10 million funding injection will further accelerate its expansion into new markets and enhance its stablecoin infrastructure. The company has positioned itself at the crossroads of traditional finance and the digital future, a position that places it in the crosshairs of both legacy financial institutions and upstart fintech disruptors. The regulatory clarity around stablecoins, coupled with their increasing adoption by banks and remittance providers, makes this an exciting time for Cybrid to scale its platform.
Looking ahead, Cybrid’s success will largely depend on its ability to navigate regulatory landscapes across various jurisdictions, especially as governments worldwide begin to implement more robust frameworks for digital assets. However, with a strong leadership team and a unique value proposition, Cybrid is well-placed to lead the charge in the next phase of cross-border payments.
The fintech sector is ripe for disruption, and with its secure, transparent, and cost-effective solution, Cybrid is positioned to be one of the key players in this transformation. As traditional payment systems continue to falter under the weight of legacy infrastructure, solutions like Cybrid’s may very well set the standard for the future of global finance.
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