Overview
- Greenoaks and Thrive Capital led the $500 million Series A at an implied $5 billion valuation, with Sequoia, Ribbit, and SV Angel participating while Stripe and Paradigm sat out.
- Tempo is an Ethereum‑compatible Layer 1 engineered for high‑throughput stablecoin payments and is designed to let multiple stablecoins pay transaction fees.
- Early design partners include OpenAI, Shopify, Visa, Anthropic, and Deutsche Bank, signaling enterprise interest in on‑chain settlement.
- Ethereum Foundation researcher Dankrad Feist joined Tempo as a senior engineer, a move he announced publicly while remaining a research advisor to select Ethereum initiatives.
- The project has not announced a public launch date or any token plans, and it sits within Stripe’s broader crypto push that includes acquiring Bridge and Privy and launching products such as Open Issuance.