Stripe is funding a brand new blockchain firm known as Tempo, co-founder CEO Patrick Collison announced 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 listing of corporations 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 properly, these design companions must be queued up to make use of or supply it for all the things from agentic funds to remittances.
Plus, Stripe board member Matt Huang, co-founder of one of the crucial prestigious crypto VC companies, Paradigm, has signed on to steer Tempo. Paradigm has additionally invested. Collison says Tempo might be run as an unbiased firm.