Stripe-Backed Tempo Blockchain Reaches $5B Valuation with $500M Series A Funding

Stripe-backed Tempo blockchain raises $500M in Series A, valuing the payment-optimized blockchain at $5B, according to a Bitcoinist report. The funding comes from Thrive Capital, Greenoaks, Sequoia Capital, Ribbit Capital, and SV Angel, with major partners including OpenAI, Shopify, Visa, Anthropic, and Deutsche Bank. Tempo aims to transform the payment infrastructure by harmonizing with legacy fintech payment rails. The investment further confirms Stripe's deepening crypto ambitions.

Stripe's blockchain project Tempo has raised $500 million in a Series A funding round, valuing the payment-optimized blockchain at $5 billion. The funding round was led by venture capital firms Thrive Capital and Greenoaks, with additional investments from Sequoia Capital, Ribbit Capital, and SV Angel. Major partners in the project include OpenAI, Shopify, Visa, Anthropic, and Deutsche Bank.

Tempo is an Ethereum-compatible Layer 1 blockchain designed to optimize high-throughput payments and financial settlement. It aims to improve real-time processing for global commerce and on-chain financial services. The project was incubated by Stripe and Paradigm but did not receive equity contributions from either entity in this funding round.

The investment further confirms Stripe's deepening crypto ambitions. The company has been expanding its presence in the crypto ecosystem through acquisitions such as Bridge, a stablecoin startup, and Privy, a crypto wallet company. Tempo represents Stripe's latest and most ambitious blockchain project, positioning it to compete with established blockchains like Ethereum and Solana.

The funding round is a significant milestone for Tempo, as it aligns with the growing interest in stablecoins and their potential to become a key infrastructure layer for global payments. The stablecoin market cap is currently valued at $316.52 billion, with a daily trading volume of $238 billion.