Sphere
About Sphere
Provides a blockchain-based payment platform that enables seamless cross-border transactions, currency conversions, and compliance through a single API or no-code dashboard. It reduces the complexity and cost of international payments for businesses, individuals, and fintechs by offering near-instant settlements, competitive exchange rates, and robust fraud detection.
```xml <problem> Traditional cross-border payment systems are complex, costly, and slow, often requiring multiple intermediaries and leading to delays in settlement and exposure to fluctuating exchange rates. Existing solutions lack transparency and can be difficult to integrate, creating operational overhead for businesses and individuals alike. </problem> <solution> Sphere provides a blockchain-based payment platform that streamlines global money transfers by leveraging stablecoins and bare-metal banking rails. The platform offers near-instant settlements, competitive OTC exchange rates, and comprehensive compliance tools through a unified API and no-code dashboard. Sphere handles the engineering, operational, and regulatory complexities of cross-border payments, allowing businesses, individuals, and fintechs to send and receive funds in various currencies with greater speed, security, and transparency. The platform supports multiple payment methods, including wire transfers, bank transfers, and card payments, and offers features like automated currency conversions and split payouts. </solution> <features> - API and no-code solutions for easy integration into existing systems - Support for multiple currencies, including USD, EUR, MXN, and BRL - Real-time currency conversion with competitive exchange rates - Comprehensive AML and fraud detection mechanisms - Compliant with US regulations, including OFAC sanctions, FTC best practices, GDPR best practices, and PCI compliance - Non-custodial platform ensuring payments are peer-to-peer - End-to-end encryption and tokenization of data at rest and in transit - Developer toolkit with RESTful API, copy-and-paste code snippets, and thorough documentation - Support for native LST payments on Solana </features> <target_audience> Sphere primarily targets businesses, fintechs, high-net-worth individuals, and those involved in international remittances who require efficient, secure, and compliant cross-border payment solutions. </target_audience> <revenue_model> Sphere offers software access for free, charging a small transaction fee on each payment. Custom enterprise pricing is available upon request. </revenue_model> ```
What does Sphere do?
Provides a blockchain-based payment platform that enables seamless cross-border transactions, currency conversions, and compliance through a single API or no-code dashboard. It reduces the complexity and cost of international payments for businesses, individuals, and fintechs by offering near-instant settlements, competitive exchange rates, and robust fraud detection.
Where is Sphere located?
Sphere is based in Boston, United States.
When was Sphere founded?
Sphere was founded in 2022.
How much funding has Sphere raised?
Sphere has raised 5000000.
Who founded Sphere?
Sphere was founded by Arnold Lee.
- Arnold Lee - CEO
- Location
- Boston, United States
- Founded
- 2022
- Funding
- 5000000
- Employees
- 27 employees
- Major Investors
- Coinbase Ventures, Kraken Ventures