Stripe’s blockchain project Tempo has secured USD 500 million in a Series A funding round that values the initiative at around USD 5 billion. The round was co-led by venture capital firms Greenoaks and Thrive Capital, while Paradigm, which helped incubate Tempo alongside Stripe, was also reportedly involved. Stripe declined to comment, and the involved firms did not immediately respond to media inquiries.
Tempo is a layer-1 blockchain designed to extend Stripe’s reach into digital asset payments, representing one of the firm’s most visible steps into the cryptocurrency sector.
Ethereum researcher joins Stripe’s blockchain project
Alongside the funding news, Tempo’s recruitment of Dankrad Feist, a leading Ethereum Foundation researcher, has drawn considerable attention from the blockchain community. The developer, who played a central role in Ethereum’s technical evolution, confirmed he had joined Stripe’s project but would continue to advise several research initiatives at the Ethereum Foundation.
A representative from Stripe said the hire reflects the company’s intention to bring blockchain-based payments closer to mainstream use. The researcher described the move as an effort to make cryptocurrency more relevant to everyday transactions, stating that the timing was right to help bridge blockchain technology with practical financial services.
The decision has prompted mixed reactions within the crypto ecosystem. Some community figures described the departure as a blow to Ethereum’s open-source foundation, suggesting that the move comes in the context of growing competition between corporate-backed and community-driven blockchain projects. Others compared the development to earlier controversies surrounding Ethereum developers who took advisory roles at private ventures while maintaining their Foundation positions.
Despite the criticism, several industry voices, including Ethereum’s co-founder, expressed support for the researcher’s new role, integrating it in the general evolution of blockchain technology and its growing intersection with established financial platforms.
