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Sphere raised $5 million in a funding round led by Coinbase and Kraken to enhance regulatory compliance and risk management functions.

Dec 11, 2024•7 months ago

Amount Raised

$5 Million

BostonInformation Technology

Investors

KrakenCoinbase

Description

Sphere, a stablecoin company, has successfully closed a $5 million funding round with key contributions from crypto giants Coinbase and Kraken. The funding will focus on regulatory compliance and improving risk management within their cross-border payment services.

Company Information

Company

Sphere

Location

Boston, Massachusetts, United States

About

Sphere is a global technology company that specializes in developing advanced payment solutions for businesses worldwide. Our comprehensive APIs and user-friendly no-code console offer a complete solution for various payment needs, including currency conversion, B2B transactions, and back-office automation.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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