Tempo, a blockchain network co-developed by Stripe and venture firm Paradigm, has secured $500 million in Series A funding, valuing the company at $5 billion. The round was led by Thrive Capital, founded by Joshua Kushner, and Greenoaks, marking one of the largest blockchain venture deals in recent years.
Other backers include Sequoia, Ribbit Capital, and SV Angel. Stripe and Paradigm did not participate financially in the round but remain strategic partners.
Building the Next Stablecoin Infrastructure
Tempo’s blockchain is designed as a payments-focused network optimized for stablecoins, betting that dollar-backed tokens will form the foundation of next-generation global payments. The project has secured design partnerships with OpenAI, Shopify, and Visa, signaling its intent to serve large-scale enterprise use cases.
The involvement of Thrive and Greenoaks-both traditionally focused on sectors such as AI and SaaS-highlights how crypto infrastructure is moving deeper into mainstream finance. Tempo aims to compete directly with existing stablecoin heavyweights like Circle and Tether, and to challenge payment incumbents such as Mastercard.
Stripe’s growing portfolio of blockchain initiatives underscores its push into the sector. In 2025, Stripe acquired stablecoin startup Bridge for $1.1 billion and crypto wallet firm Privy for an undisclosed sum. It has also launched Open Issuance, enabling businesses to create their own stablecoins through Stripe’s infrastructure.
Tempo’s Strategy and Industry Implications
Tempo will operate as a stablecoin-agnostic blockchain, allowing users to pay transaction fees (“gas”) in multiple tokens rather than a native cryptocurrency. The network’s launch date remains unannounced, and the company has not indicated whether it will issue a native token of its own.
Paradigm’s managing partner Matt Huang, who also sits on Stripe’s board, is leading the project’s development. Tempo’s ambition is to deliver faster, more scalable settlement for stablecoin payments-competing head-to-head with established blockchains like Ethereum and Solana.
Industry observers view Tempo’s emergence as part of a broader movement among major corporations to own every layer of the crypto technology stack. Similar initiatives have been announced by Robinhood and Circle, both of which are building proprietary blockchains to process their own stablecoin transactions.
As previously covered, stablecoins have become a strategic priority for fintech and financial firms seeking to modernize global money movement. With Tempo’s $5 billion valuation and deep-pocketed backers, Stripe is signaling that stablecoin-based payments are no longer a niche experiment-they’re the next frontier in mainstream finance.
