Tempo Raises $500 Million for Stablecoin Payments, Ethereum Developer Joins

Tempo, a blockchain subsidiary of payments processor Stripe focused on stablecoin payments, has successfully concluded a $500 million Series A fundraising round, bringing its valuation to $5 billion. This significant investment highlights growing TradFi commitment to stablecoins, with participation from firms like Greenoaks, Sequoia, and Thrive Capital, led by Jared Kushner. Concurrently, Dankrad Feist, a veteran Ethereum Foundation developer since 2018, announced he is joining Tempo, believing the startup can usher in real change in crypto payments. Feist suggested Tempo's work will complement Ethereum's long-term vision rather than directly compete with it. Tempo's payment processing blockchain is designed to be compatible with multiple third-party tokens, and the company has not announced plans to launch its own token.

(Source：BeInCrypto)