Stripe is funding a brand new blockchain firm referred to as Tempo, co-founder CEO Patrick Collison announced on Thursday. Tempo is geared toward high-volume processing of stablecoins — cash that assist cut back crypto’s infamous volatility as a result of they’re pegged to a steady asset just like the U.S. greenback. That’s not stunning provided that Stripe acquired stablecoin firm Bridge.
What’s stunning is the eye-popping record of firms Stripe has already enlisted: Anthropic, Coupang, Deutsche Financial institution, DoorDash, Lead Financial institution, Mercury, Nubank, OpenAI, Revolut, Shopify, Normal Chartered, and Visa. So if the blockchain works properly, these design companions must be queued up to make use of or provide it for the whole lot from agentic funds to remittances.
Plus, Stripe board member Matt Huang, co-founder of one of the prestigious crypto VC corporations, Paradigm, has signed on to guide Tempo. Paradigm has additionally invested. Collison says Tempo will likely be run as an impartial firm.
