Farcaster co-founders Dan Romero and Varun Srinivasan have joined stablecoin-based payments startup Tempo.
CoinDesk reported on Feb. 9 that Farcaster drew attention as a cryptocurrency-based alternative to Twitter, but was recently acquired by Neynar and its founders chose a new challenge. Neynar is a Farcaster infrastructure provider and has supported APIs and tools for developers.
Tempo is a stablecoin project formed last year with payments company Stripe and crypto venture firm Paradigm taking the lead. The two companies set out a goal of innovating the international payments system based on their experience building financial infrastructure. Romero said, "Tempo is focused on building a fast, cheap and transparent global payments network."
Farcaster developer Merkle has stepped away from the project since the Neynar acquisition. CoinDesk reported that while Farcaster showed the potential of cryptocurrency social media, its founders appear to have judged that blockchain payments offer a bigger opportunity.
Chi-gyu Hwang
delight@d-today.co.kr