Stripe is funding a brand new blockchain firm known as Tempo, co-founder CEO Patrick Collison introduced on Thursday. Tempo is geared toward high-volume processing of stablecoins — cash that assist scale 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 shocking provided that Stripe acquired stablecoin firm Bridge.
What’s shocking is the eye-popping checklist of firms Stripe has already enlisted: Anthropic, Coupang, Deutsche Financial institution, DoorDash, Lead Financial institution, Mercury, Nubank, OpenAI, Revolut, Shopify, Customary Chartered, and Visa. So if the blockchain works effectively, these design companions ought to be queued up to make use of or provide it for every little 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.
