The round values Tempo at $5 billion, representing one of the highest valued blockchain venture rounds over the past few years. Sequoia, Ribbit Capital, and Ron Conway’s SV Angel also participated, according to one of the people. Paradigm and Stripe did not contribute capital to the round.
Stripe, Paradigm, Greenoaks, and SV Angel declined to comment. Thrive, Ribbit, and Sequoia did not respond to a request for comment.
Blockchains are essentially networks of servers that process crypto transactions. Forthcoming chains from the likes of Stripe and Robinhood represent attempts to own every layer of the crypto technology stack, from the software that powers stablecoin transfers to the underlying servers that process them.
