Stripe Buys Crypto Team – But Will They Pay the Bills? 😄

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Payments giant Stripe has acquired the team from crypto wallet firm Valora, just a day after launching its testnet for its stablecoin-focused blockchain project Tempo. 🚀

According to Valora CEO Jackie Bona, the acquisition will see the Valora team join Stripe and work on the firm’s blockchain initiatives. Because nothing says “innovation” like a team of crypto experts joining a payments giant. 🤔

Valora was founded in mid-2021 after spinning out of Celo development group cLabs and raising $20 million in Series A funding in the process. Because nothing says “serious business” like a crypto wallet with a million-dollar funding round. 💸

The Valora app is a mobile wallet that supports stablecoins and other assets across Celo, Ethereum, Base, Optimism and Arbitrum. Because who doesn’t want to juggle multiple cryptocurrencies like a digital circus performer? 🎪

“Stripe shares our conviction that stablecoins and crypto can dramatically expand who gets to participate in the global economy,” said Bona, adding that “by bringing Valora’s team to Stripe, we’ll be able to contribute our expertise in web3 and user-first experiences to a platform with unparalleled reach.” Because nothing says “global economy” like a blockchain project. 🌍

It is not explicitly stated what the Valora team will work on; however, Stripe will be tapping a team that has had a strong focus on global payments, digital wallets and user-friendly smartphone-based Web3 apps. Because who needs clarity when you can have a mystery? 🕵️‍♂️

“Through this work, we’ve seen firsthand how access to stablecoins and crypto rails can expand economic opportunity. In the past few months, it became clear that we could accelerate this mission by joining Stripe, one of the world’s leading financial infrastructure platforms,” Bona said. Because nothing says “economic opportunity” like a blockchain project. 💼

The Valora app will continue to function, but its operations and future development will be handed over to cLabs. Because nothing says “continuity” like handing over the reins to the parent company. 🚪

Momentum building for Stripe and Tempo

After an on-again-off-again relationship with crypto, Stripe has been making strides in the blockchain space over the past couple of years. Because nothing says “commitment” like a payments giant finally giving crypto a shot. 🤷‍♂️

Momentum has been building particularly since first unveiling Tempo four months ago in partnership with crypto VC firm Paradigm, with the network already having a $5 billion pre-launch. Because who needs a functioning product when you can have a $5 billion pre-launch? 💸

The latest move from Stripe comes just a day after Stripe and Paradigm’s layer-1 blockchain project Tempo launched its open testnet. Because why wait when you can launch a testnet and a team in the same day? 🎉

One of the key features highlighted during the testnet launch was the ease and simplicity of creating stablecoins directly in the browser, among other benefits. Because who needs a complicated process when you can do it in a browser? 🌐

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2025-12-11 05:48