Tempo, a blockchain project spearheaded by Stripe and crypto venture firm Paradigm, has secured $500 million in a Series A funding round at a valuation of $5 billion, marking one of the largest recent investments in blockchain ventures. The round was led by Greenoaks and Thrive Capital, with participation from Sequoia, Ribbit Capital, and SV Angel. Notably, neither Stripe nor Paradigm contributed capital, signaling strong external confidence in the platform’s vision.
The Tempo blockchain is designed to power stablecoin-based payments, positioning itself to challenge both traditional financial networks like Mastercard and established stablecoin issuers such as Circle and Tether. By remaining stablecoin-agnostic, the platform allows different tokens to cover transaction fees, offering flexibility and scalability for global payment systems. Major design partners, including OpenAI, Shopify, and Visa, indicate broad interest from high-profile technology and commerce players.
Matt Huang, managing partner at Paradigm and a member of Stripe’s board, leads the initiative, reflecting Stripe’s continued strategic expansion into blockchain technology. The funding follows Stripe’s recent acquisitions in the crypto space, including the $1.1 billion purchase of stablecoin startup Bridge and the pending acquisition of crypto wallet provider Privy. Stripe has also introduced products such as Open Issuance, which enables businesses to launch their own stablecoins, while Bridge has applied for a national bank trust charter under the new Genius Act to ensure regulatory compliance.
Tempo’s launch signals a broader trend of fintech firms seeking to control the blockchain infrastructure behind cryptocurrency transactions. Similar initiatives by Robinhood and Circle highlight a growing ambition within the industry to integrate proprietary blockchain solutions into mainstream financial operations. For the crypto ecosystem, Tempo could accelerate adoption of stablecoins in global payments, while also introducing a new competitive dynamic among corporate-backed blockchain projects.
Looking ahead, Tempo’s progress will be closely watched by investors, regulators, and technology partners, as the platform aims to redefine how stablecoins interact with global commerce, potentially shaping the next generation of blockchain-enabled financial systems.
