Rainforest, a challenger to Stripe, has successfully secured $20 million in Series B funding to enhance its platform for managing payment transactions. The investment will be utilized to expand its services and improve user experience in the competitive fintech landscape.

Tempo, a payments-focused blockchain incubated by Stripe, has successfully raised $500 million in a Series A funding round, achieving a valuation of $5 billion. The funding, led by Thrive Capital and Greenoaks, underscores Stripe's increasing involvement in the cryptocurrency sector as Tempo aims to optimize high-throughput payments on an Ethereum-compatible Layer 1 network.