Stripe-Backed Tempo Blockchain Raises $500 Million in Series A

Tempo, a payments-focused blockchain developed by Stripe and Paradigm, has raised $500 million in a Series A round led by Joshua Kushner’s Thrive Capital and Greenoaks.

The funding round values Tempo at $5 billion, according to Fortune, making it one of the largest blockchain venture rounds in recent years.

Sequoia, Ribbit Capital, and Ron Conway’s SV Angel also participated in the financing. Fortune revealed that Paradigm and Stripe did not contribute capital to the round.

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