š¦ Stripeās backing blockchain Tempo has raised $500 million! Sequoia and Kushner are fighting to get in
Last week, payments giant Stripe and Paradigm jointly developed blockchain Tempo announced the completion of a Series A funding roundā$500 million raised, with a valuation that jumped to $5 billion.
What does this number even mean?
š Itās higher than the D-round valuations of most Web3 startups
š The investor lineup is absolutely dazzling: Sequoia Capital, Thrive Capital (Kushnerās fund), SV Angel...
š One-sentence summary: the top-tier VCs in Silicon Valley are all rushing in
So why is Tempo worth so much?
Stripe paid $1.1 billion for Bridge, then quietly hired 5 people and worked for 2 years to build this L1 chain focused on stablecoin payments.
With a fixed fee of 0.1 cents per transaction, no impact from Gas price fluctuations, and support for paying transaction fees with any USD stablecoināthese features are incredibly attractive for any company that wants to run on-chain payroll, pay suppliers, or handle cross-border payments.
š¬ Some say itās āthe chain picked by Stripe,ā while others call it āthe only compliant player in the stablecoin payments track.ā
What do you thinkācan a chain with such a lavish backing truly disrupt traditional payments?
#Tempo #Stripe #åŗåé¾ #稳å®åø #financing
Last week, payments giant Stripe and Paradigm jointly developed blockchain Tempo announced the completion of a Series A funding roundā$500 million raised, with a valuation that jumped to $5 billion.
What does this number even mean?
š Itās higher than the D-round valuations of most Web3 startups
š The investor lineup is absolutely dazzling: Sequoia Capital, Thrive Capital (Kushnerās fund), SV Angel...
š One-sentence summary: the top-tier VCs in Silicon Valley are all rushing in
So why is Tempo worth so much?
Stripe paid $1.1 billion for Bridge, then quietly hired 5 people and worked for 2 years to build this L1 chain focused on stablecoin payments.
With a fixed fee of 0.1 cents per transaction, no impact from Gas price fluctuations, and support for paying transaction fees with any USD stablecoināthese features are incredibly attractive for any company that wants to run on-chain payroll, pay suppliers, or handle cross-border payments.
š¬ Some say itās āthe chain picked by Stripe,ā while others call it āthe only compliant player in the stablecoin payments track.ā
What do you thinkācan a chain with such a lavish backing truly disrupt traditional payments?
#Tempo #Stripe #åŗåé¾ #稳å®åø #financing