The Toronto-based company is developing a product that allows fintechs and challenger banks to offer cryptocurrency services more easily. Luge Capital and Harvest Venture Partners also participated in the round. (The Logic)

Talking point: The line between fintechs and crypto startups are increasingly blurry, with companies like Wealthsimple making bigger moves in the emerging sector. At the same time, users are starting to expect a wider array of financial services within apps, prompting investor interest in companies building infrastructure for businesses to develop those capabilities more cheaply. Portage Ventures, for example, recently backed Alpaca, a California-based startup that allows companies to integrate stock and crypto trading into their platforms. Cybrid says its platform enables crypto investing, high-yield financial accounts and crypto rewards programs.