Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Farcaster creators team up with stablecoin venture Tempo following Neynar’s acquisition of the social protocol.
Dan Romero and Varun Srinivasan have both departed from crypto social media to concentrate on global payments utilizing stablecoins.
What to know:
- Farcaster co-founders Dan Romero and Varun Srinivasan are joining stablecoin startup Tempo, indicating a transition from crypto social media to blockchain-based payment solutions.
- This change follows the acquisition of Farcaster by infrastructure provider Neynar, after which Romero, Srinivasan, and a significant portion of the Merkle team withdrew from the project.
- Tempo, which was incubated by Stripe and Paradigm, aims to create a rapid, cost-effective, and transparent stablecoin-powered network for international payments as an alternative to conventional cross-border systems.
Farcaster co-founders Dan Romero and Varun Srinivasan announced on Monday their decision to join the stablecoin-centric startup Tempo, marking a shift from crypto-native social media to a focus on blockchain-driven payments.
STORY CONTINUES BELOWDon’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newslettersSign me up
Related Posts
This decision follows Neynar’s acquisition of Farcaster last month, a long-standing infrastructure provider for the protocol that supplies APIs and tools for developers working on the network.
Farcaster was previously promoted as the crypto alternative to Twitter, a protocol-based solution where users maintained control over their identities and data. After Neynar’s acquisition, Romero, Srinivasan, and several members of their team at Merkle, the organization behind Farcaster, stepped away from the initiative.
In a post on X, Romero expressed that he is now dedicated to establishing a “fast, inexpensive and transparent” global payments network at Tempo.
Launched discreetly last year, Tempo has quickly gained recognition as one of the most well-funded new enterprises in the stablecoin sector. It was incubated by the payment leader Stripe and the crypto investment firm Paradigm, both of which possess extensive experience in developing and scaling financial infrastructure. Tempo’s objective is to facilitate international payments through stablecoins, providing an alternative to traditional cross-border systems that tend to be expensive, slow, and opaque.
