[Cross-border stablecoin payment company Sphere completes $5 million funding round, led by Coinbase Ventures and others] On December 12, news came that cross-border stablecoin payment company Sphere completed a $5 million funding round, led by Coinbase Ventures and Kraken Ventures. The funds raised will be used to further invest in regulatory compliance and risk management capabilities. Sphere was founded by Arnold Lee and Luigi Charles in 2022, and enables stablecoin cross-border payments between businesses by partnering with global fintech companies and licensed remittance service providers, allowing stablecoins to be exchanged for local currencies at the destination.