Summary
- Visa, Stripe, and Zodia Custody have joined Tempo, a payments-focused blockchain, as validators.
- Tempo is an Ethereum-compatible Layer 1 optimized for high-speed institutional payments and stablecoin settlement, and was reported to have reached a valuation of about $5 billion after a roughly $500 million Series A round.
- The participation of these companies, which handle trillions of dollars in payment traffic each year, should improve the network's stability and credibility.
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Visa and Stripe have joined the Tempo blockchain as validators, crypto-focused channel Unfolded reported on April 14.
Zodia Custody, the Standard Chartered-owned digital-asset custodian, is also participating as a validator on Tempo, a payments-focused blockchain.
Tempo is an Ethereum-compatible Layer 1 blockchain built for high-speed institutional payments and stablecoin settlement. Stripe and Paradigm were involved in its early incubation, and the company was reported to have reached a valuation of about $5 billion after a roughly $500 million Series A round.
The companies handle trillions of dollars in payment traffic each year. Their participation as validators should help strengthen the network's stability and credibility.
Cuy Sheffield, Visa's head of digital assets, said the move aligns with purpose-built infrastructure for scaling stablecoins.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
