Farcaster co-founders Dan Romero and Varun Srinivasan said on Monday they are joining stablecoin startup Tempo, marking their next move after stepping back from leadership of the decentralized social protocol earlier this year.
Romero announced the move in a post on X, calling stablecoins a “generational opportunity” and saying he would work with Tempo co-founder Matt Huang and the broader team to help bring stablecoins into mainstream use.
Srinivasan, who co-founded Farcaster alongside Romero, said he is joining Tempo to focus on building a global payments network that is “fast, inexpensive and transparent” in a separate post.
The hires come just weeks after Farcaster’s protocol and associated products were acquired by decentralized social infrastructure firm Neynar. At the time, Romero and Srinivasan said they would be stepping away from day-to-day leadership after several years building the onchain social network.
Merkle Manufactory, the company behind Farcaster, also announced plans to return roughly $180 million raised from venture investors following the transition, saying the protocol itself would continue operating under new leadership. Paradigm’s Huang noted the “rest of the Merkle team” will also join Tempo.
Romero and Srinivasan previously said they planned to shift their focus toward wallet products built on Farcaster infrastructure, but Monday’s announcements show the pair are now moving into payments and stablecoin infrastructure instead.
Tempo ramps up stablecoin payments push
Tempo, which has largely operated behind the scenes, is positioning itself as a payments-focused blockchain optimized for stablecoin settlement and global transfers, an area attracting renewed attention as banks, fintech firms, and crypto companies race to modernize cross-border payment rails.
The company was incubated by Stripe and Paradigm and raised $500 million last year at a reported $5 billion valuation.
Tempo launched a public testnet for its Layer 1 blockchain in December and has said firms including Mastercard, UBS, and Kalshi are design partners, while companies such as Klarna plan to issue stablecoins on the network.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
