The deal values the upcoming payments-focused blockchain at $5 billion.<\/p>\n
Tempo<\/a>, a payments-focused blockchain developed by Stripe and Paradigm, has raised $500 million in a Series A round led by Joshua Kushner\u2019s Thrive Capital and Greenoaks.<\/p>\n The funding round values Tempo at $5 billion, according to Fortune<\/a>, making it one of the largest blockchain venture rounds in recent years. <\/p>\n Sequoia, Ribbit Capital, and Ron Conway\u2019s SV Angel also participated in the financing. Fortune revealed that Paradigm and Stripe did not contribute capital to the round. <\/p>\n The large $500 million funding round highlights growing institutional confidence in stablecoins<\/a> and corporate-backed blockchains. The total stablecoin sector is currently valued at about $307 billion, with Tether\u2019s USDT boasting a $181 billion market cap and 59% market share.<\/p>\n Tempo\u2019s funding also reflects a broader trend of major venture investors backing crypto technology for global payments. This comes as a recent Visa report<\/a> found that stablecoins are expanding beyond payments and trading, with more than $670 billion in loans issued through on-chain lending platforms over the past five years.<\/p>\n Ryne Saxe, CEO and co-founder of Eco, a liquidity layer for stablecoins, emphasized that the market is moving fast and the stakes are enormous. <\/p>\n \u201cHundreds of millions positioning for a stablecoin standards war. Billions in valuation before launch. Hundreds of billions in circulation. Tens of trillions in settlement volume,\u201d Saxe said. \u201cIt\u2019s no longer a question of if stablecoins will underpin global finance, but how fast the transition happens, and which networks become the default rails for money movement in the years and decades to come.\u201d<\/p>\nNew Leadership<\/h2>\n