New updates have been reported about Stripe (PC:STRPQ)
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Stripe has announced its investment in a new blockchain initiative called Tempo, which aims to facilitate high-volume processing of stablecoins. This move aligns with Stripe’s strategic direction following its acquisition of the stablecoin company Bridge. Stablecoins are designed to mitigate the volatility typically associated with cryptocurrencies by being pegged to stable assets like the U.S. dollar. The involvement of Stripe in this venture underscores its commitment to expanding its capabilities in the digital currency space.
Tempo has already attracted a notable list of design partners, including major companies such as Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa. These companies are poised to leverage the blockchain for various applications, ranging from agentic payments to remittances, should the technology prove successful. Additionally, Matt Huang, a Stripe board member and co-founder of the renowned crypto venture capital firm Paradigm, will lead Tempo. Paradigm has also contributed investment to the venture. Stripe co-founder and CEO Patrick Collison emphasized that Tempo will operate as an independent entity, indicating a strategic approach to fostering innovation while maintaining operational autonomy.