Toronto, Ontario and Newark, New Jersey--(Newsfile Corp. - January 18, 2024) - Cybrid, a top Embedded Finance provider, proudly announces the expansion of its Fintech API platform to now encompass business-to-business (B2B) payments. This latest enhancement brings a host of advanced features tailored to meet the sophisticated needs of modern businesses, further cementing Cybrid's status as a leader in financial innovation.
Building on its success in B2C payments via API and SDKs, Cybrid's platform is equipped with a comprehensive range of financial services including KYC identity verification processes, money transmission using wire and ACH transfers, virtual FBO accounts for USD connected to digital wallets with integrated crypto onramp and offramps. The addition of B2B payment capabilities is integrated with a Know Your Business (KYB) process, facilitating smooth onboarding of business customers to support fiat and cryptocurrency transactions.
Key advantages include real-time transactions with fast confirmations, ensuring businesses benefit from near-instant payment processing for rapid access to funds and improved liquidity management. It also features high transaction limits, specifically tailored to accommodate large sum payments with ease, thereby reducing the complexities often associated with high-value transactions. Additionally, the solution provides rich remittance data, which streamlines record-keeping by enabling businesses to reconcile transactions with less reliance on paperwork. A crucial component of the platform is the crypto onramp/offramp for USD Coin (USDC) and Bitcoin (BTC), offering a seamless way for businesses to send and receive cryptocurrency payments. This feature adds versatility in payment rails and aligns with the growing global trend towards digital currencies, positioning Cybrid at the forefront of financial technology innovation.
"Our expansion into B2B payments marks a significant stride in our mission to equip businesses with the most advanced financial tools available," said Avinash Chidambaram, CEO of Cybrid. "The inclusion of cryptocurrency capabilities with USDC and BTC onramps and offramps is particularly exciting, opening up new avenues for financial transactions in the digital age."
This development is a key milestone for Cybrid, reinforcing its role as an innovator in transforming business-business payments infrastructure. For more details about Cybrid and its range of financial API solutions, please visit www.cybrid.xyz.
About Cybrid:
Cybrid is a leading provider of Embedded Finance API solutions. Cybrid specializes in enabling diverse payment use cases including empowering 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 pushing the boundaries of financial technology.
Cybrid works closely with its B2B partners to help them understand their flow of funds and determine the best way to integrate ACH, wire, and crypto payments 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.
Contact Info:
Eric Richards
Head of Growth
eric@cybrid.xyz
www.cybrid.xyz
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190910
SOURCE: Cybrid Inc.
