Stripe is funding a brand new blockchain firm known 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 shocking on condition that Stripe acquired stablecoin firm Bridge.
What’s shocking is the eye-popping record of corporations 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 nicely, these design companions needs to be queued up to make use of or supply it for all the pieces from agentic funds to remittances.
Plus, Stripe board member Matt Huang, co-founder of probably the most 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.
