Tempo reaches a valuation of $5 billion
US media Fortune Crypto reported on October 17 that Tempo, a new layer 1 blockchain jointly developed by US payments giant Stripe, has raised $500 million (about 75 billion yen) in a Series A funding round.
The financing round was co-led by Greenoaks and Thrive Capital. After the acquisition, Tempo’s market value reached $5 billion (about 750 billion yen).
Tempo is a new layer 1 blockchain focused on the crypto assets (virtual currency) and payments space. It is co-incubated by Stripe and crypto asset VC firm Paradigm. Tempo’s intended use cases include cross-border money transfers, global payouts, integrated finance and micropayments, as well as token deposits and payments via autonomous agents.
Companies expected to use Tempo include Anthropic, Deutsche Bank, DoorDash, Nubank, OpenAI, Revolut and Shopify.
On the same day, Dankrad Feist, a leading researcher at the Ethereum Foundation, announced on X that he would be joining Tempo. Feist joined the Ethereum Foundation in 2018 and is known as the co-creator of Danksharding. It is expected that he will be involved in the technical development of Tempo in the future, and will continue to be involved in some Ethereum research activities as an advisor.
Following this announcement, Ethereum co-founder Vitalik Buterin praised Feist’s contributions to Ethereum and supported his move to Tempo. On the other hand, opinions within the community are divided, with David Hoffman, co-founder of crypto asset media Bankless, noting: “This is a blow to Ethereum.”
I am happy to announce that I am joining Tempo. The past year was a turning point for crypto, where we finally saw the contours of our vision become reality. While payments were central in the early days of crypto, I see a special opportunity…
— Dankrad Feist (@dankrad) October 17, 2025
Reference: Fortune Crypto
Image: PIXTA
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