The payments giant’s new Layer-1 blockchain gains major backing from top venture capital firms amid rising demand for stablecoin infrastructure.
Stripe’s Tempo Raises $500 Million to Build the Future of Blockchain Payments
Stripe’s blockchain venture, Tempo, has achieved a $5 billion valuation after securing $500 million in Series A funding, according to a Fortune report. The round was led by Thrive Capital and Greenoaks, with participation from Sequoia Capital, Ribbit Capital, and SV Angel.
“We think of Tempo as the payments-oriented Layer-1, optimized for high-scale, real-world financial applications,” wrote Stripe CEO Patrick Collison on X when introducing the project on September 4.
At Stripe, we care about high-throughput, low-latency payments use cases. As the use of stablecoins (and crypto more broadly) grows across Stripe, Bridge, and Privy, we found that existing blockchains are not optimized for them.
Tempo was developed to solve a key challenge Stripe identified in its growing use of stablecoins across Stripe, Bridge, and Privy — the need for a blockchain purpose-built for large-scale financial transactions.
Though a launch date has not been confirmed, Paradigm CTO Georgios Konstantopoulos revealed that the core engineering team from Ithaca, an open-source infrastructure project, has joined Tempo to help build and scale its blockchain payments framework.
The move signals Stripe’s deepening commitment to integrating crypto-native settlement systems into global finance while keeping a focus on speed, security, and regulatory compliance.
Rising Competition in the Stablecoin and Payments Space
Tempo enters a rapidly evolving market dominated by stablecoin issuers and blockchain payment networks. Its largest competitor will likely be Circle, the issuer of USDC, which is backed 1:1 by the U.S. dollar and integrated with Visa and Mastercard.
USDC currently has a market capitalization of $75.6 billion, second only to Tether’s USDT. In August, Circle announced its own Layer-1 blockchain initiative to power stablecoin payments and capital markets, signaling intensifying competition for enterprise-grade blockchain infrastructure.
Tempo’s launch comes on the heels of the GENIUS Act, a landmark U.S. law enacted in July 2025 that establishes federal oversight for stablecoin issuers. The legislation has fueled renewed investment in compliant digital payment systems
Meanwhile, euro-pegged stablecoins are gaining momentum in Europe, as the EU pushes to challenge U.S. dollar dominance in digital finance.
With Tempo now valued at $5 billion, Stripe and Paradigm are positioning the network to redefine how stablecoins and real-world assets move across borders — bridging traditional finance and blockchain-based settlement in a regulated, enterprise-ready ecosystem.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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