Stripe is funding a new blockchain firm known as Tempo, co-founder CEO Patrick Collison introduced on Thursday. Tempo is aimed toward high-volume processing of stablecoins — cash that assist cut 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 on condition that Stripe acquired stablecoin firm Bridge.
What is shocking is the eye-popping listing of corporations Stripe has already enlisted: Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa. So if the blockchain works effectively, these design companions must be queued up to use or supply it for all the things from agentic funds to remittances.
Plus, Stripe board member Matt Huang, co-founder of one of the prestigious crypto VC corporations, Paradigm, has signed on to lead Tempo. Paradigm has additionally invested. Collison says Tempo will likely be run as an unbiased firm.