Sphere Labs and Aroot Partner to Revolutionize Cross-Border Payments for Kazakhstan's Global Trade

Sphere Labs and Aroot have signed a memorandum of understanding to streamline cross-border payments for businesses operating in Kazakhstan. By integrating SpherePay into Aroot’s FORTA platform, the partnership aims to simplify complex multi-currency transactions for commodity exporters and logistics firms, addressing the friction inherent in Kazakhstan’s position as a critical global trade hub.

What was announced

Sphere Labs and Aroot have formalized their intent to collaborate on a B2B payment solution through a memorandum of understanding signed on November 3, 2026, in Seoul. The agreement, signed by Arnold Lee, CEO and co-founder of Sphere Labs, and Daeseong Lee, Chairman of Aroot, focuses on facilitating payments for businesses operating within Kazakhstan’s extensive trade and logistics sectors.

The core of the collaboration involves exploring the integration of Aroot’s digital finance platform, FORTA, with SpherePay, the B2B cross-border payments API developed by Sphere Labs. This connection would allow businesses using FORTA to execute transactions across more than 160 markets using their existing currencies. For Aroot, the integration removes the necessity of building out individual local networks in every country of operation. For Sphere Labs, the deal provides a direct channel into the Kazakhstani market, where crude oil represented half of exports in 2025 and uranium production accounts for 40% of the global total.

The two companies aim to target businesses with recurring payment needs between Kazakhstan and major markets including the US, Mexico, and Brazil. These transactions typically involve paying overseas suppliers, collecting export proceeds, and settling logistics costs. Additionally, the MOU covers the exploration of Korean won settlement in South Korea through Aroot’s subsidiary, Most P&S, though this remains subject to definitive agreements and regulatory approval. All businesses introduced through this partnership will be required to undergo Sphere Labs’ standard onboarding processes, including KYC, KYB, AML, and sanctions screening.

"Kazakhstan is becoming one of the most important trade crossroads between Asia and Europe, and the importers, exporters and logistics companies behind its commodity and goods trade often pay and get paid through several banks and currencies before the money arrives, which is precisely the problem SpherePay was built for,"

Arnold Lee, CEO and co-founder of Sphere Labs

The companies involved

Aroot is a KOSDAQ-listed entity based in South Korea that maintains a significant operational presence in both its home market and Kazakhstan. The company operates the digital finance platform FORTA and manages subsidiaries including Most P&S, which focuses on payment and settlement services. Aroot’s market position is defined by its role in bridging the East Asian and Central Asian trade corridors, specifically catering to the logistics and trade sectors that facilitate Kazakhstan’s commodity exports.

Sphere Labs is a financial technology firm specializing in B2B cross-border payment infrastructure. Its flagship product, SpherePay, is a live API designed to facilitate international transactions across more than 160 markets. The company’s strategy focuses on reducing the friction associated with multi-bank and multi-currency payment routes, which are common in global trade. By providing a unified API, Sphere Labs enables its partners to offer global payment capabilities without the need to establish individual local banking relationships in every jurisdiction where they operate.

What FF News has reported before

FF News has previously tracked the development of Sphere Labs within the broader fintech ecosystem. The company was featured in coverage regarding Money20/20 USA Expands Startup Hub to Accelerate Fintech Growth in Las Vegas, where it was identified as part of a cohort of startups driving growth and innovation in the sector. This prior reporting highlighted the role of specialized payment providers in the evolving landscape of financial technology, particularly those participating in major industry accelerators and hubs. The current partnership with Aroot represents a concrete step in the company's regional expansion strategy within the Asia-Pacific and Central Asian markets.

What this means

This partnership underscores the growing demand for specialized B2B payment rails in commodity-rich emerging markets. Kazakhstan’s role as a major exporter of uranium and crude oil creates a high-volume transaction environment that traditional correspondent banking often struggles to service efficiently. By bypassing the need for multiple intermediary banks, API-driven solutions like SpherePay put pressure on traditional regional financial institutions to modernize their cross-border offerings. The move also highlights the increasing importance of the Korea-Kazakhstan trade corridor. However, the success of the initiative remains contingent on navigating the complex regulatory requirements for Korean won settlement, a perennial challenge for fintechs operating across disparate jurisdictions.