Stripe Partners With Anthropic, OpenAI to Build New Blockchain
▼ Summary
– Stripe is funding a new blockchain company called Tempo, as announced by co-founder Patrick Collison.
– Tempo focuses on high-volume processing of stablecoins, which are pegged to stable assets like the U.S. dollar.
– Stripe has enlisted major companies like Anthropic, Deutsche Bank, OpenAI, Shopify, and Visa as design partners for Tempo.
– Matt Huang, a Stripe board member and co-founder of crypto VC firm Paradigm, will lead Tempo, with Paradigm also investing.
– Tempo will operate as an independent company, according to Collison.
Stripe is making a major move into the world of blockchain by funding a new venture named Tempo, a company focused on high-volume stablecoin processing. This development, announced by co-founder and CEO Patrick Collison, signals a strategic push into the rapidly evolving digital payments space. The initiative builds on Stripe’s earlier acquisition of stablecoin firm Bridge, reinforcing its commitment to developing infrastructure for more predictable and scalable cryptocurrency transactions.
What truly sets this project apart is the impressive roster of launch partners already on board. Industry leaders including Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa have all signed on as design partners. This broad coalition suggests strong confidence in Tempo’s potential to support a wide array of financial applications, from automated agent payments to international remittances.
Adding further credibility to the venture, Stripe board member Matt Huang, co-founder of the highly regarded crypto investment firm Paradigm, will lead Tempo. Paradigm has also made a financial investment in the new company. Collison emphasized that Tempo will operate as an independent entity, allowing it the flexibility and focus needed to innovate within the competitive blockchain ecosystem.
(Source: TechCrunch)