Striped-owned blockchain Tempo has now reportedly completed a Series A funding round, securing a total investment of $500 million. The funding round was led by prominent venture capitalist firms Greenoaks and Joshua Kushner’s Thrive Capital, representing the growing footprint of cryptocurrency in mainstream finance and global capital markets.

In a new post on Friday, Fortune reports that Stripe’s Tempo has recorded a successful Series A funding, pushing the blockchain’s valuation to $5 billion. In early September, Stripe announced Tempo in partnership with crypto VC Paradigm as a layer-1 blockchain designed to enable stablecoin payment and boost payment efficiency.

In Paradigm’s announcement statement, the firm’s co-founder and managing director, Matt Huang,  gave valuable insights on Tempo’s mission, saying:

We are excited to further crypto’s ability to tackle real-world use cases, including global payments and payroll, remittances, tokenized deposits for 24/7 settlement, embedded financial accounts, microtransactions, agentic payments, and more.

Tempo joins a list of growing stablecoin-focused layer 1 blockchains, including Circle’s Arc and Tether’s Plasma. Interestingly, its launch also comes following the adoption of a pro-crypto policy by US President Donald Trump, leading to several positive regulatory developments.

In July, President Trump notably signed the GENIUS Act, establishing a federally approved framework to regulate the issuance and operation of stablecoins in the United States. 

Tempo represents Stripe’s bet on dollar-backed stablecoin’s potential to emerge as a key player in the global payment system. The blockchain project is jointly designed with global industry leaders, including Deutsche Bank, OpenAI, Standard Chartered, and Revolut, among others. 

Meanwhile, alongside Greenoaks and Thrive Capital, other participants in this funding round included Ribbit Capital, Sequoia, and Ron Conway’s SC Angel. Notably, Paradigm and Stripe made no equity contribution to this round.

Beyond its investment in Tempo, Stripe’s expansion into crypto has accelerated in 2025. In February, the billion-dollar company acquired stablecoin startup Bridge for $1.1 billion, followed by a June deal to purchase crypto wallet company Privy.

With Tempo, the payment company looks to gain a stronghold in the booming stablecoin market. While Stripe has not disclosed plans for a native Tempo token, the company has previously stated plans to remain agnostic. The company’s focus on blockchain payment infrastructure puts it in direct competition with established stablecoin players like Circle and Tether, and major blockchain networks such as Ethereum, Solana, and Tron.

At press time, the total stablecoin market cap is $316.52 billion with a daily trading volume of $238 billion. 

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