Stripe-backed L1 Tempo raises $500M in new funding spherical

Tempo, a blockchain startup launched by Stripe, raised $500M in a funding spherical co-led by Thrive Capital and Greenoaks.

Stripe launched Tempo as a specialised blockchain designed to reinforce fee effectivity for its ecosystem, together with integrations with stablecoins and associated instruments like Bridge and Privy. The high-throughput, low-latency base layer is optimized for international funds use circumstances.

Tempo has begun collaborating with entities like Agora to combine with different fee protocols, signaling broader ecosystem connectivity within the blockchain funds area.

Thrive Capital, underneath founder and managing associate Joshua Kushner, continues to again fintech innovators like Stripe, emphasizing long-term technological transformations in funds and enterprise operations.

Stripe, a funds infrastructure firm, has been actively increasing into blockchain with its personal high-performance chain for stablecoin and crypto transactions.