Stripe Launches Blockchain Project with AI Leaders

Stripe Invests in New Blockchain Firm, Tempo

Stripe has provided funding for a newly established blockchain company, Tempo, as revealed by co-founder and CEO Patrick Collison on Thursday.

Tempo’s primary focus will be the efficient processing of stablecoins. These cryptocurrencies are designed to mitigate the price fluctuations commonly associated with the crypto market, as they maintain a fixed value relative to a stable asset, such as the U.S. dollar.

This development aligns with Stripe’s previous acquisition of Bridge, a company specializing in stablecoin technology.

Significant Industry Backing

Notably, Tempo has secured the collaboration of a substantial number of prominent organizations. These include:

• Anthropic
• Coupang
• Deutsche Bank
• DoorDash
• Lead Bank
• Mercury
• Nubank
• OpenAI
• Revolut
• Shopify
• Standard Chartered
• Visa

Should the blockchain prove successful, these partner companies are positioned to integrate or provide access to it for a variety of applications, ranging from automated payments to international money transfers.

Leadership and Investment

Matt Huang, a member of Stripe’s board and co-founder of the respected crypto venture capital firm Paradigm, will lead Tempo. Paradigm is also contributing investment to the project.

Collison has confirmed that Tempo will operate as a separate and independent entity from Stripe.