Stripe has brought the entire team behind the crypto wallet firm Valora into the company, one day after launching the testnet for its new stablecoin centered blockchain project called Tempo.
The move gives Stripe added talent with long experience in mobile wallets and digital payments while Tempo gains early attention across the sector.
Team Joins Stripe with Mobile Web3 Tools Expertise
Valora began in mid 2021 after splitting off from the Celo development group cLabs and securing $20 million in Series A funding. The group went on to build a mobile wallet that handles stablecoins and other assets across Celo, Ethereum, Base, Optimism and Arbitrum. Along with the wallet, the team created an open protocol launchpad aimed at app builders who want a mobile first experience for Web3 tools.
Valora CEO Jackie Bona said the team will now move into Stripe to work on blockchain projects already in progress. Bona noted that both companies see stablecoins as a way to widen access to digital payments. While Stripe has not laid out the exact duties for the incoming group, the skills involved point toward work on global payment systems, digital wallets and smartphone friendly crypto apps.
Bona said the team has learned over time how direct access to stablecoins can help users in many regions take part in online commerce. She added that joining Stripe felt like the fastest path to push this mission forward due to Stripe’s scale in payment services.
Valora App Stays Live
The Valora app will remain active for users. cLabs will handle its next steps and continue development. This shift allows the former Valora team to focus fully on Stripe’s growing blockchain plans.
Stripe has moved back into crypto work after earlier periods of hesitation. Over the past two years, the company has steadily added new features and partnerships. Strong interest began to form around Tempo after Stripe and Paradigm revealed the network four months ago. Tempo drew attention for reaching a $5 billion pre launch level, setting the stage for its testnet release.
The Tempo testnet went live just one day before Stripe confirmed the Valora team hire. During the launch, developers pointed out how simple it is to create stablecoins in a browser using Tempo tools. As testing expands, Stripe now has added staff ready to guide further progress on one of its most watched projects.