Newark, New Jersey--(Newsfile Corp. - November 14, 2023) - Cybrid Technology Inc, the crypto payments infrastructure provider, announces support for USDC remittance as a scalable and low cost solution for cross-border fund transfer to global economies.
Cybrid is aiming to lead the charge in a metamorphosis of the digital financial landscape with infrastructure that's challenging the way North America thinks about global remittances. Serving corridors from both Canada and the US, Cybrid provides crypto banking infrastructure, trying to carve out a niche in a rapidly evolving crypto infrastructure space.
At the heart of this transformation is the formidable USDC stablecoin, a product of Circle. The increasing financial connectivity between continents has led to surging demand for instantaneous and secure monetary transfers. With US and Canada seeing outflows of nearly $200 billion, the space is full of potential, and Cybrid is leveraging USDC to address the monumental task at hand. Benefitting are regions like India, South America, and Africa, which historically have been encumbered by the sluggish and often costly traditional remittance systems.
Global remittance is a growing market that new fintechs want to participate in. Yet, the technical complexity and regulatory requirements create a cost that is often too high for early stage fintechs. As such, there is a growing market of middle-ware infrastructure providers, like Cybrid, that have done a lot of the heavy lifting in terms of technology, banking, money movement and compliance, giving new fintechs a path forward.
The effectiveness of Cybrid's platform can be summed up by Avinash Chidambaram, CEO of Cybrid, "We've built a robust and intuitive fintech stack that enables our partners to develop and deploy remittance applications on Cybrid's infrastructure in weeks, instead of months or years. We cover KYC, money movement, currency conversion, and on-chain settlement, with all the necessary compliance tooling. It's true out-of-the-box capability."
In an era where "instant" everything is expected, and the demand for swift, transparent, and reliable financial transactions is critical, Cybrid's initiative with USDC marks a significant stride towards the future of global remittances.
Learn more at https://blog.cybrid.xyz/usdc-use-case-remittances
Cybrid is a B2B crypto infrastructure platform that empowers fintechs, financial institutions and payment providers to easily integrate cryptocurrency and cross-border crypto payments 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 compliant 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 New Jersey, USA, and is backed by world class fintech venture investors including Golden Ventures, Luge Capital and Harvest Venture Partners.
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