Stripe enlists a who’s who, including Anthropic, OpenAI, and Paradigm, to build a new blockchain

On Thursday, Stripe unveiled its latest initiative, Tempo, a blockchain company designed to facilitate high-volume transactions of stablecoins. Co-founder and CEO Patrick Collison shared this exciting development, highlighting the company's focus on stablecoins, which are designed to mitigate the volatility often associated with cryptocurrencies by being pegged to stable assets like the U.S. dollar. What sets this venture apart is the impressive roster of partners that Stripe has brought on board. Notable companies including Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa have all signed on. This collaboration suggests a strong potential for the blockchain to be utilized effectively across various applications, ranging from automated payments to international remittances. Matt Huang, a board member at Stripe and co-founder of Paradigm, a leading crypto venture capital firm, will be at the helm of Tempo. Paradigm has also made a financial commitment to support this new venture. According to Collison, Tempo is set to operate as an independent entity, paving the way for innovation in the blockchain space.