Stripe is funding a brand new blockchain firm referred to as Tempo, co-founder CEO Patrick Collison introduced on Thursday. Tempo is aimed toward high-volume processing of stablecoins — cash that assist cut back crypto’s infamous volatility as a result of they’re pegged to a secure 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 listing 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 effectively, these design companions must be queued up to make use of or supply it for every thing 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 steer Tempo. Paradigm has additionally invested. Collison says Tempo will likely be run as an impartial firm.
