ChainCatcher News, the stablecoin payment company Sphere has completed a $5 million funding round led by Coinbase Ventures and Kraken Ventures. 🎉 Founded by Arnold Lee and Luigi Charles in 2022, the company aims to become the 'Stripe of crypto'.

Sphere focuses on providing payment solutions for underdeveloped emerging market merchants, enabling cost-effective, secure, and nearly instant cross-border payments through stablecoins. 💸 Its visually appealing and accessible graphical user interface (GUI) facilitates smoother coordination with blockchain, custodial infrastructure, and financial service providers.

This funding will provide Sphere with more resources to drive the development and adoption of its payment infrastructure. 🌍