{"id":312041,"date":"2025-10-18T00:21:20","date_gmt":"2025-10-18T00:21:20","guid":{"rendered":"https:\/\/www.europesays.com\/us\/312041\/"},"modified":"2025-10-18T00:21:20","modified_gmt":"2025-10-18T00:21:20","slug":"exclusive-stripe-backed-blockchain-startup-tempo-raises-500-million-round-led-by-joshua-kushners-thrive-capital-and-greenoaks","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/312041\/","title":{"rendered":"Exclusive: Stripe-backed blockchain startup Tempo raises $500 million round led by Joshua Kushner\u2018s Thrive Capital and Greenoaks"},"content":{"rendered":"

As fervor around stablecoins grows from Silicon Valley to Wall Street, one of the most high-profile new crypto projects has drummed up a massive coffer of funds to back its ambitious plans. Tempo, a payments-focused blockchain developed<\/a> by fintech giant Stripe<\/a> and blockchain venture firm Paradigm, has raised $500 million in fresh funding in a Series A round led by venture giant Greenoaks and Joshua Kushner\u2019s Thrive Capital, according to five people familiar with the matter.\u00a0<\/p>\n

The round values Tempo at $5 billion, representing one of the highest valued blockchain venture rounds over the past few years. Sequoia, Ribbit Capital, and Ron Conway\u2019s SV Angel also participated, according to two of the people. Paradigm and Stripe did not contribute capital to the round.\u00a0<\/p>\n

The Tempo blockchain\u2014which includes design partners such as OpenAI, Shopify<\/a>, and Visa\u2014is primarily designed for stablecoins, and represents a bet that the dollar-backed cryptocurrencies will become the new infrastructure layer for global payments.\u00a0<\/p>\n

Greenoaks and Thrive leading the funding round is notable because the two generalist firms typically invest in mainstream sectors such as AI and business-focused software\u2014their bet on Tempo is the latest evidence that crypto has entered the mainstream. For Tempo, bringing two of the top venture firms on board will help it challenge leading crypto-native stablecoin companies, from Circle<\/a> to Tether<\/a>, as well as disrupt incumbents such as Mastercard<\/a>.\u00a0<\/p>\n

Stripe, Paradigm, Greenoaks, and SV Angel declined to comment. Thrive, Ribbit, and Sequoia did not respond to a request for comment.<\/p>\n

Corporate blockchains<\/strong><\/p>\n

Tempo is just the latest crypto play from Stripe. In February, the payments company closed a deal to acquire<\/a> the stablecoin startup Bridge for $1.1 billion. And in June, Stripe said<\/a> it intended to buy the crypto wallet company Privy for an undisclosed sum.\u00a0<\/p>\n

Stripe has already started to roll out a suite of new products related to stablecoins, including Open Issuance<\/a>, which allows Stripe customers to launch their own stablecoins. And Bridge cofounder and CEO Zach Abrams said<\/a> on Tuesday that his Stripe-owned startup submitted an application for a national bank trust charter to comply with the Genius Act<\/a>, recently signed-into-law legislation that establishes regulatory guardrails for stablecoin issuers.<\/p>\n

Tempo, however, represents Stripe\u2019s most ambitious project as it seeks to compete with long-established blockchains such as Ethereum<\/a> and Solana<\/a> that process stablecoin transactions. Stripe partnered with Paradigm to roll out the initiative, and Paradigm\u2019s managing partner Matt Huang\u2014who also sits on Stripe\u2019s board\u2014is leading Tempo.\u00a0<\/p>\n

The date of its launch remains unclear, and Tempo has not signaled whether it will release its own crypto token. The company previously announced<\/a> that it will remain stablecoin agnostic, meaning different tokens can be used to pay the \u201cgas\u201d fees, or small payments required to process transactions.<\/p>\n

Stripe\u2019s Tempo isn\u2019t the only planned blockchain from a large corporation. Since January, financial firms like the online brokerage Robinhood and the stablecoin behemoth Circle have released<\/a> plans<\/a> to start up blockchains of their own.<\/p>\n

Blockchains are essentially networks of servers that process crypto transactions. Forthcoming chains from the likes of Stripe and Robinhood represent attempts to own every layer of the crypto technology stack, from the software that powers stablecoin transfers to the underlying servers that process them.\n<\/p>\n

On the new Fortune Crypto Playbook vodcast,<\/strong> Fortune\u2019s senior crypto experts decode the biggest forces shaping crypto today. Watch or listen now<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"As fervor around stablecoins grows from Silicon Valley to Wall Street, one of the most high-profile new crypto…\n","protected":false},"author":3,"featured_media":312042,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[64,821,111210,67,132,68,1594],"class_list":{"0":"post-312041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-cryptocurrency","10":"tag-stripe","11":"tag-united-states","12":"tag-unitedstates","13":"tag-us","14":"tag-venture-capital"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115392315080284386","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/312041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=312041"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/312041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/312042"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=312041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=312041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=312041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}