# Sphere — Global Multi-Currency Stablecoin Protocol > Sphere is a global multi-currency stablecoin protocol issuing sKRW, sUSD, sEUR, sJPY and more — every major fiat currency on-chain. Like USDC, but for every currency, not just USD. --- ## 1. Overview Sphere is a global multi-currency stablecoin protocol that issues fiat-pegged stablecoins across major blockchains. Starting with sKRW (Korean Won) live on Solana Devnet, Sphere is expanding to sUSD (US Dollar), sEUR (Euro), sJPY (Japanese Yen), and more. The protocol enables anyone, anywhere to mint, redeem, transfer, and use their native currency on-chain with institutional-grade security and compliance. ### Mission To make every major fiat currency accessible, programmable, and interoperable in the decentralized economy — enabling seamless cross-border payments, DeFi participation, and financial inclusion for users worldwide in their native currency. ### Current Status sKRW is live on Solana Devnet as the first Sphere stablecoin. sUSD, sEUR, and sJPY are in development. Users can get free test sKRW tokens from the Faucet at https://krw.money/faucet. --- ## 2. Key Facts | Attribute | Value | |---|---| | Name | Sphere | | Type | Global Multi-Currency Stablecoin Protocol | | Live Tokens | sKRW (Korean Won) | | Coming Soon | sUSD (US Dollar), sEUR (Euro), sJPY (Japanese Yen) | | Future | sGBP, sCNY, sSGD, and more | | Peg Mechanism | Full 1:1 collateralization per currency | | Reserve Custody | Regulated financial institutions per jurisdiction | | Networks | Solana (SPL, Devnet live), Ethereum (ERC-20), TRON (TRC-20), Aptos | | Transaction Finality | Sub-second | | Availability | 24/7/365 | | Status | sKRW on Solana Devnet live, multi-currency & multi-chain expansion in progress | | Website | https://krw.money | | Founded | 2025 | | Headquarters | South Korea | --- ## 3. Supported Currencies | Token | Currency | Status | Description | |---|---|---|---| | sKRW | Korean Won (₩) | Live (Devnet) | First Sphere stablecoin | | sUSD | US Dollar ($) | Coming Soon | US Dollar stablecoin | | sEUR | Euro (€) | Coming Soon | Euro stablecoin | | sJPY | Japanese Yen (¥) | Coming Soon | Japanese Yen stablecoin | | sGBP | British Pound (£) | Planned | British Pound stablecoin | | sCNY | Chinese Yuan (¥) | Planned | Chinese Yuan stablecoin | | sSGD | Singapore Dollar (S$) | Planned | Singapore Dollar stablecoin | Each Sphere stablecoin is pegged 1:1 to its corresponding fiat currency, fully collateralized by reserves held in regulated financial institutions in the relevant jurisdiction. --- ## 4. Core Protocol Features ### 4.1 Fully Collateralized Every Sphere stablecoin is backed 1:1 by its corresponding fiat currency held in regulated financial institutions. The protocol publishes real-time Proof of Reserves on-chain, ensuring complete transparency and trust. ### 4.2 Instant Settlement The protocol achieves sub-second transaction finality on supported networks. Users can send and receive any Sphere stablecoin anywhere in the world, at any time, with near-instant confirmation. ### 4.3 Multi-Chain Deployment Sphere stablecoins are natively deployed across major blockchains: - **Solana (SPL)**: First deployment, Devnet live. High-throughput, low-cost transactions - **Ethereum (ERC-20)**: Maximum DeFi composability and institutional adoption - **TRON (TRC-20)**: Widespread P2P transfer usage globally - **Aptos**: Next-generation Move-based smart contracts Seamless cross-chain transfers enabled through unified liquidity pools. ### 4.4 Multi-Currency (What Makes Sphere Unique) Unlike USDT and USDC which only support USD, Sphere issues stablecoins for multiple fiat currencies: - Users can hold and transact in their **native currency** on-chain - **Cross-currency swaps** (sKRW ↔ sUSD ↔ sEUR) with zero FX fees - Each currency is independently collateralized and audited - Enables true global commerce without currency conversion friction ### 4.5 Global Regulatory Compliance The protocol is designed from the ground up for global regulatory compliance: - Licensing under relevant financial authorities per jurisdiction - Regular third-party audits of reserves and smart contracts - Transparent governance framework with public reporting - KYC/AML compliance for minting and redemption ### 4.6 Mint & Redeem Users can convert fiat to its corresponding Sphere stablecoin and back instantly: - Zero slippage conversion at 1:1 ratio - Instant minting upon verified fiat deposit - Same-day redemption to bank accounts - No minimum or maximum limits for verified users ### 4.7 Cross-Currency Swaps Sphere stablecoins can be swapped instantly between currencies: - sKRW ↔ sUSD ↔ sEUR ↔ sJPY - Zero FX fees within the Sphere ecosystem - Real-time exchange rates from oracle feeds - Enables seamless global payments without traditional FX ### 4.8 DeFi Integration Sphere stablecoins are designed to be first-class DeFi assets: - Lending and borrowing on major DeFi protocols - Liquidity provision in decentralized exchanges - Yield generation through various DeFi strategies - Collateral usage in decentralized derivatives ### 4.9 P2P Trading The protocol includes a decentralized peer-to-peer trading system: - Smart contract-based escrow - Automated dispute resolution - Verified counterparty system - Multiple payment methods support ### 4.10 Insurance Fund A protocol-level insurance fund protects users against: - Smart contract vulnerabilities - Peg deviation events - Operational risks - Black swan scenarios ### 4.11 Global Remittance Sphere stablecoins enable cross-border remittances: - Completed in seconds (vs. 1-5 business days for traditional wire transfers) - Available 24/7 (vs. banking hours only) - Significantly cheaper than traditional remittance services - Send in native currency, receive in native currency --- ## 5. Technical Architecture ### Blockchain Networks - Solana: SPL token standard, Devnet live, optimized for speed and cost - Ethereum: ERC-20 token standard, maximum DeFi composability - TRON: TRC-20 token standard, widespread P2P usage - Aptos: Move-based, next-gen smart contract capabilities ### Smart Contracts - Audited by independent third-party security firms - Upgradeable proxy pattern for future improvements - Multi-signature governance for critical operations - Open-source and publicly verifiable ### Reserve Management - Reserves held in regulated financial institutions per jurisdiction - Real-time on-chain attestation of reserve balances - Periodic third-party reserve audits - Segregated accounts for user protection --- ## 6. Use Cases ### Cross-Border Payments Send value in your native currency to anyone worldwide in seconds, at a fraction of traditional remittance costs. No currency conversion needed. ### DeFi in Native Currency Participate in DeFi without first converting to USD. Access lending, borrowing, and yield opportunities directly in KRW, EUR, JPY, or any supported currency. ### Cross-Currency Swaps Exchange between Sphere stablecoins instantly. sKRW ↔ sUSD ↔ sEUR with zero FX fees — perfect for international commerce. ### E-Commerce Payments Accept and make payments in any Sphere stablecoin for cross-border e-commerce with instant settlement. ### Institutional Settlement Enable financial institutions and corporations to settle transactions on-chain in multiple currencies with full regulatory compliance. ### RWA Access Access tokenized real-world assets in your native currency without FX risk. --- ## 7. Comparison with Alternatives ### vs. USD Stablecoins (USDT, USDC) USDT and USDC only support USD. Non-dollar users bear exchange rate risk and conversion fees. Sphere offers stablecoins in multiple currencies — sKRW, sUSD, sEUR, sJPY — so users worldwide can transact in their native currency. ### vs. Traditional Banking Sphere offers 24/7 availability, sub-second settlement, global accessibility, cross-currency swaps, and programmability that traditional banking cannot match. ### vs. Other Regional Stablecoins Sphere is not limited to a single currency. It's a global multi-currency platform with multi-chain support, full collateralization, and regulatory compliance from day one. --- ## 8. Frequently Asked Questions ### What is Sphere? Sphere is a global multi-currency stablecoin protocol issuing fiat-pegged stablecoins like sKRW, sUSD, sEUR, and sJPY. Starting with sKRW on Solana Devnet, Sphere is expanding across blockchains and currencies worldwide. ### Which currencies does Sphere support? sKRW (Korean Won) is live now. sUSD (US Dollar), sEUR (Euro), and sJPY (Japanese Yen) are coming next. sGBP, sCNY, sSGD and more are planned. ### How are Sphere stablecoins backed? Every Sphere stablecoin is fully backed 1:1 by its corresponding fiat currency held in regulated financial institutions. Real-time Proof of Reserves is published on-chain. ### Which networks are supported? sKRW is live on Solana Devnet. Ethereum (ERC-20), TRON (TRC-20), and Aptos deployments are planned. ### How is Sphere different from USDT and USDC? USDT and USDC only support USD. Sphere offers stablecoins in multiple currencies so users can transact on-chain in their native currency without FX risk. ### Can I swap between Sphere stablecoins? Yes. Cross-currency swaps (sKRW ↔ sUSD ↔ sEUR) are a core feature, enabling instant exchange between currencies with zero FX fees. ### Can I get sKRW right now? Yes. Visit the Faucet at https://krw.money/faucet to receive free test sKRW tokens on Solana Devnet. ### Is Sphere regulated? Yes. Sphere is designed for global regulatory compliance, with licensing, audits, and transparent governance in every jurisdiction. --- ## 9. Brand Identity Sphere's visual identity is built around a morphing gradient blob — an organic, faceted 3D form with teal-to-cyan-to-purple color gradients, representing the fluid, borderless nature of global decentralized finance. The brand CI assets are available at https://krw.money/sphere_ci.png. --- ## 10. Real World Assets (RWA) Sphere positions its multi-currency stablecoins as the gateway to the global tokenized real-world asset (RWA) market. Users can access tokenized treasuries, private credit, commodities, and equities in their native currency — eliminating exchange rate risk and enabling 24/7 access. ### 10.1 RWA Market Overview (March 2026) The tokenized real-world asset market (excluding stablecoins) has surpassed $26 billion: | Category | Market Size | Share | |---|---|---| | Private Credit | $15.56B | 59% | | Tokenized Treasuries | $10.88B | 41% | | Tokenized Commodities | $7.83B | — | | Tokenized Equities | ~$1B | — | | **Total** | **$26.44B** | — | Ecosystem metrics: 657K+ holders, 144+ issuers, 228+ assets. ### 10.2 Major RWA Funds | Fund | AUM | Yield | Chains | Key Details | |---|---|---|---|---| | BlackRock BUIDL | $2.24B | ~3.47% | Ethereum, Solana + 6 others | Largest tokenized treasury fund. Securitize partnership. | | Ondo OUSG | ~$2.0B | ~4.2% | Ethereum, Solana, Aptos+ | Invests in BUIDL. Instant redemption. | | Circle USYC (Hashnote) | $1.85B | ~4.0% | Ethereum, Solana+ | USDC ecosystem integration. T-Bill backed. | | Franklin Templeton BENJI | $922M | ~4.3% | Stellar, Polygon + 8 others | $20 minimum. 10+ chains. | | Maple Finance | $1.2B+ | Variable | Ethereum, Solana, Base | Institutional undercollateralized lending. | | Centrifuge | $500M+ | Variable | Ethereum, Base, Centrifuge Chain | Core MakerDAO RWA vault supplier. | ### 10.3 How Sphere Connects to RWA 1. **Mint**: Convert fiat → Sphere stablecoin through the protocol 2. **Invest**: Use Sphere stablecoin to access tokenized assets via DEX or RWA protocols 3. **Redeem**: Receive RWA returns in Sphere stablecoin, then redeem to fiat ### 10.4 Korea RWA Context - **STO Framework**: Active since 2024, enabling legal tokenized asset issuance - **Bank Stablecoins**: 8 major Korean banks exploring KRW-backed stablecoin issuance - **Growing Market**: Korea's token securities market is growing rapidly Learn more at https://krw.money/rwa --- ## 11. Contact & Links - **Website**: https://krw.money - **X (Twitter)**: https://x.com/JihunWeb3 - **LinkedIn**: https://www.linkedin.com/in/jihun-kim-556a32110/ - **Brand CI**: https://krw.money/sphere_ci.png - **Whitepaper**: https://krw.money/whitepaper - **RWA**: https://krw.money/rwa - **Faucet**: https://krw.money/faucet - **Built by**: [Alpsoft Inc.](https://www.alpsoft.io/) --- ## 12. Legal © 2026 Sphere. All rights reserved. Sphere is a technology protocol. This document is for informational purposes only and does not constitute financial advice, an offer to sell, or a solicitation of an offer to buy any securities or financial instruments.