Stablecoin L1 Tempo completes $500 million Series A funding round, led by Greenoaks and Thrive Capital
BlockBeats News, October 18, according to Fortune, Tempo, a payment-focused stablecoin Layer 1 blockchain developed by fintech giant Stripe and Paradigm, has completed a $500 million Series A funding round, led by venture capital giants Greenoaks and Joshua Kushner's Thrive Capital.
This round values Tempo at $5 billion, making it one of the highest-valued blockchain venture investments in recent years. According to a source familiar with the matter, Sequoia Capital, Ribbit Capital, and Ron Conway's SV Angel also participated in this round. Paradigm and Stripe did not participate in this round. The Tempo blockchain (with design partners including OpenAI, Shopify, and Visa) is primarily designed for stablecoins, representing a bet that US dollar-backed cryptocurrencies will become the new global payment infrastructure layer.
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