Tempo Raises $500 Million in Funding
Tempo, a new blockchain project backed by Stripe and Paradigm, has raised $500 million. This is one of the largest crypto venture rounds in recent years. The funding round was led by Thrive Capital, run by Joshua Kushner, and Greenoaks. The investment values Tempo at about $5 billion. Other investors include Sequoia, Ribbit Capital, and SV Angel. Stripe and Paradigm, who incubated Tempo, did not participate in this round.
Focus on Stablecoins and Cross-Border Payments
Tempo is not building a trading-focused blockchain. Instead, it targets stablecoins, which are dollar-linked cryptocurrencies mainly used for payments. The project aims to serve as a settlement layer for moving digital dollars across borders. It works similarly to how card networks process payments behind the scenes. Early collaborators include OpenAI, Shopify, Visa, and Deutsche Bank.
Stripe’s Growing Role in Crypto Infrastructure
Stripe has expanded into stablecoin infrastructure over the past year. It acquired Bridge for about $1.1 billion and is acquiring Privy, a crypto wallet startup. Bridge has applied for a national trust bank charter. This would allow it to issue stablecoins under new U.S. regulations.
Tempo joins other blockchain projects from large tech and financial firms like Robinhood and Circle. These companies want to control the infrastructure layer, including fees, scale, and transaction data, instead of relying on Ethereum or Solana. Tempo has not announced a launch date or plans to issue a token. It will remain “stablecoin agnostic,” supporting multiple digital dollars on its network.
This funding round shows renewed venture interest in crypto infrastructure, especially payment rails, rather than speculative trading projects.
