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Investing.com -- Blockchain startup Tempo has secured $500 million in Series A funding, valuing the company at $5 billion, according to Fortune, citing five people familiar with the matter. The funding round was led by Joshua Kushner’s Thrive Capital and venture firm Greenoaks.
The payments-focused blockchain, developed by fintech giant Stripe and blockchain venture firm Paradigm, attracted investments from several major venture capital firms. Sequoia, Ribbit Capital, and Ron Conway’s SV Angel participated in the round, while Paradigm and Stripe did not contribute capital.
Tempo’s blockchain is primarily designed for stablecoins, positioning itself as a potential new infrastructure layer for global payments. The platform includes several prominent design partners, including OpenAI, Shopify, and Visa.
The $5 billion valuation makes this one of the highest valued blockchain venture rounds in recent years, highlighting continued investor interest in blockchain payment infrastructure despite market fluctuations in the broader cryptocurrency sector.
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