Stablecoin L1 Tempo Completes $500 Million Series A Funding Round, Led by Greenoaks and Thrive Capital

BlockBeats News, October 18th, according to Fortune report, Tempo, a Layer 1 blockchain focused on payments developed by fintech giant Stripe and Paradigm, has completed a $500 million Series A funding round led by venture capital giants Greenoaks and Joshua Kushner's Thrive Capital.

This funding round values Tempo at $5 billion, making it one of the highest-valued blockchain venture investments in recent years. According to a source familiar with the matter, Sequoia Capital, Ribbit Capital, and Ron Conway's SV Angel also participated in this funding round. Paradigm and Stripe did not participate in this round of funding. The Tempo blockchain (including design partners such as OpenAI, Shopify, and Visa) is primarily designed for stablecoins, representing a bet that cryptocurrency backed by the dollar will become the new global payment infrastructure layer.