Stripe-Backed Tempo Blockchain Secures $500M at $5B Valuation
Tempo, a payments-focused blockchain developed by Stripe and Paradigm, has raised $500 million in a Series A round led by Greenoaks and Thrive Capital. The funding values the stablecoin infrastructure project at $5 billion, marking one of the largest blockchain venture deals this year.
The participation of mainstream tech investors Greenoaks and Thrive signals growing institutional interest in crypto-native infrastructure. Tempo's design partners include OpenAI, Shopify, and Visa, positioning it to challenge both stablecoin issuers like Circle and traditional payment networks.
Paradigm's Matt Huang leads the initiative, which remains currency-agnostic - allowing various stablecoins to process transactions rather than relying on a single native token. The platform's launch timing and tokenomics remain undisclosed.
