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

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

Stripe introduced Tempo as a specialized blockchain designed to enhance payment efficiency for its ecosystem, including integrations with stablecoins and related tools like Bridge and Privy. The high-throughput, low-latency base layer is optimized for global payments use cases.

Tempo has begun collaborating with entities like Agora to integrate with other payment protocols, signaling broader ecosystem connectivity in the blockchain payments space.

Thrive Capital, under founder and managing partner Joshua Kushner, continues to back fintech innovators like Stripe, emphasizing long-term technological transformations in payments and enterprise operations.

Stripe, a payments infrastructure company, has been actively expanding into blockchain with its own high-performance chain for stablecoin and crypto transactions.