Coinberry partners with Cyclebit to offer crypto transactions through POS


Coinberry, a Toronto-based digital crypto platform, is partnering with Singapore-based Cyclebit to offer a cryptocurrency-to-retail payment processing solution.

“We believe leveraging our trusted technology backbone will continue to accelerate growth in the industry.”

Coinberry’s partnership with Cyclebit, which processes over 1 million transactions per month globally, will allow POS transactions to take place via cryptocurrency at any accepting retailer. Coinberry said these transactions will have banking grade security, all transaction data will remain encrypted between merchant and customer, and no intermediaries will be involved and transactions are processed instantly.

“We are always seeking innovative new ways to bring our customers trusted cryptocurrency and blockchain solutions that deliver exceptional value,” said Andrei Poliakov, co-founder and CEO of Coinberry. “From our recent government partnerships, to enterprise, and now via retail payment processors, we believe leveraging our trusted technology backbone will continue to accelerate growth in the industry.”

Founded in 2017, Coinberry is a FINTRAC-registered startup focused on blockchain and digital currency solutions. Coinberry’s cryptocurrency trading platform aims to offer members a way to buy, sell, and process payments made with Bitcoin, and other cryptocurrencies in Canada.

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“When we decided to expand the Cyclebit solution to Canada, the first company we want to associate ourselves with was Coinberry,” said Sameer Pirani, co-founder of Cyclebit North America. “We wanted to work with like-minded people who are known for pushing boundaries and can get results with full transparency and trust of their users. We have a common vision of making Cryptocurrencies part of the economic cycle where individuals have a choice of what to currencies they chose to use to buy and spend on goods and services.”

Last August, Coinberry partnered with a BRD, Switzerland-based company that provides a wallet for digital currencies, making it the exclusive bank partner for Canada, a partnership that gave BRD’s 1.2 million total users access to the Canadian platform. In March, Coinberry formed an agreement with the Town of Innisfil in Ontario, providing its buying service to allow Innisfil to accept cryptocurrency.

Coinberry will be unveiling its historic partnership with Cyclebit with the first live demonstration in Canada, at the upcoming Blockchain Futurist conference happening August 13 and 14, in Toronto.

Image courtesy Coinberry

Isabelle Kirkwood

Isabelle Kirkwood

Isabelle is a Vancouver-based writer with 5+ years of experience in communications and journalism and a lifelong passion for telling stories. For over two years, she has reported on all sides of the Canadian startup ecosystem, from landmark venture deals to public policy, telling the stories of the founders putting Canadian tech on the map.

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