ChainCatcher news, according to Forbes, stablecoin payment company Sphere has completed a $5 million funding round led by Coinbase Ventures and Kraken Ventures. The company was founded by Arnold Lee and Luigi Charles in 2022, aiming to create a "crypto version of Stripe."According to RootData, Sphere is a payment infrastructure that helps merchants from underdeveloped emerging markets achieve cost-effective, secure, and nearly instant cross-border payments using stablecoins. Through a visually appealing and easily accessible graphical user interface (GUI), Sphere coordinates blockchain, hosted infrastructure, and financial service providers to facilitate stablecoin payments.

ChainCatcher news, according to Bloomberg, informed sources revealed that Singapore's Gulf Bank is seeking to raise at least $50 million and plans to acquire a stablecoin payment company next year.This startup bank was founded by Singapore's family office Whampoa Group and has been licensed in Bahrain since February. The bank is currently in negotiations with Middle Eastern sovereign wealth funds and other investors, planning to sell less than 10% of its equity before early 2025.Informed sources stated that the proceeds will primarily be used to accelerate product development, enhance the bank's payment network, and hire more staff. They mentioned that Gulf Bank plans to acquire a stablecoin payment company in the Middle East or Europe in the first quarter. A bank spokesperson declined to comment on the financing, valuation, or acquisition plans.

ChainCatcher news, according to Bloomberg citing informed sources, the stablecoin payment company BVNK, backed by Tiger Global, is in preliminary financing talks with potential investors, aiming to raise at least $50 million. The valuation and specific amount of this round of financing may change during negotiations.BVNK's financing plan comes shortly after payment giant Stripe acquired a significant player in the stablecoin payment sector, demonstrating venture capital firms' continued optimism about the stablecoin payment space.

ChainCatcher news, according to The Block, Web3 payment company Bridge, founded by former Coinbase and Square employees, has completed a $58 million funding round, with participation from Sequoia Capital, Ribbit, Index, and Haun Ventures.Bridge is building a stablecoin-based payment platform that offers services such as cross-border payments and foreign currency exchange. It has already partnered with Bitso to launch stablecoin-based B2B cross-border payments in Latin America.