Tempo Blockchain Raises $500M at $5B Valuation With Thrive Capital, Greenoaks

Tempo, a stablecoin-focused blockchain backed by Stripe and Paradigm, raised $500 million in a Series A round valuing the project at $5 billion. The funding was led by Thrive Capital and Greenoaks, with participation from Sequoia, Ribbit Capital, and SV Angel. Neither Stripe nor Paradigm invested new capital in this round, according to sources familiar with the matter. The platform is designed for stablecoin transactions and has OpenAI, Shopify, and Visa among its design partners.