Sphere

Sphere Labs is a stablecoin payments infrastructure company founded in 2022. Its two core products — SpherePay and SphereNet — are designed to collapse the friction, cost, and delay that characterise cross-border money movement, replacing correspondent banking chains with stablecoin rails that settle transactions in under 30 minutes across more than 160 markets.

SpherePay: The Cross-Border Payments API

SpherePay is the commercial face of Sphere Labs: an API-first platform that connects fiat banking rails to stablecoin networks through a single integration. Businesses can move value between USD, EUR, and BRL and the stablecoins USDC, USDT, and EURC, with settlement flowing across ACH, Wire, SEPA, PIX, and SWIFT on the fiat side and Solana, Ethereum, Polygon, Base, Avalanche, Arbitrum, Tron, and Aptos on the crypto side.

SpherePay ships four distinct access modes: the Developer Toolkit (REST APIs and SDKs), the Business Dashboard (self-service portal requiring no engineering), the Private Desk (high-touch service for high-volume transfers), and the Embedded Ramp (white-label widget). A fifth offering launched in mid-2026 — the Integrators Dashboard — allows B2B and B2C platforms to onboard customers and generate payment orders with no integration work at all.

In July 2026 Sphere added SWIFT reach, allowing USD payouts to reach more than 11,000 financial institutions across 200 or more countries directly from the SpherePay API. The same month, Sphere joined Mastercard's Crypto Partner Program.

Sphere describes its core approach as a "stablecoin sandwich": incoming local currency is converted to a stablecoin at the point of origin, transferred across blockchain rails, then converted to the destination currency or stablecoin on arrival. Embedded compliance is a structural feature: KYC and KYB verification, sanctions screening, and AML workflows are built into the transfer flow.

SphereNet: Settlement Infrastructure for Regulated Finance

Running alongside SpherePay is SphereNet, a shared settlement ledger targeting banks, capital markets firms, trade finance platforms, and public-sector ministries. SphereNet incorporates identity verification, jurisdictional rules, sanctions screening, and regulatory reporting directly into transaction execution. The network is designed to be credibly neutral, independent of specific stablecoin issuers, asset classes, and jurisdictions.

As of mid-2026 SphereNet is in private pilot. Published figures show more than $38 billion in committed payment volume, with 17 or more regulated financial entities onboarded across eight or more jurisdictions.

In August 2026, Deutsche Telekom joined SphereNet as a validator partner, extending the network's infrastructure to an established global operator with its own existing cross-border payments business.

Backing and Ecosystem

Sphere Labs raised $5 million in December 2024 from Coinbase Ventures and Kraken Ventures, with additional backing from Solana Ventures, Jump Crypto, Temporal, Pyth, Anagram, HRT, and Anza. Clients on the SpherePay network include Helius, Helium, Latitude, Keyrock, and Maple.