I don't think that customers or businesses should see Tempo very much. In the success case, Tempo is a platform like SWIFT or ACH that others employ behind the scenes to orchestrate transactions. "Decentralized, internet-scale SWIFT" isn't exactly the right analogy (there are clearly lots of differences), but it's not totally wrong either.

Why are businesses finding crypto easier/faster/better?

Yeah, I think this is the natural follow-up question. The answer differs a bit based on the use-case, but there are a few common reasons:

* Instant on-chain transfers avoiding trapped liquidity. If you're transferring money from financial institution A to institution B, and the transfer takes a day, you're either slowed a day in taking the next step or you have to somehow cover that float. Depending on your movements and their predictability, that can require big buffers.

* Fees that are lower than cards. Card payments are instant, which is often valuable (and superior to many bank transfers), but card transactions are also expensive relative to stablecoins. (And while card authorization is instant, settlement is not.)

* Reliability. This sounds funny, but, when sending money between countries, there are many more manual processes involved at the associated financial institutions than one might think. Money is frequently just... lost, and humans are required to hunt for it. (We see this all the time at Stripe.) Crypto is punishing if you make a mistake, but, if you do things correctly, reliability is all-but guaranteed.

* Fewer currency conversions. Wholesale FX for major currencies is very cheap, but minor currencies can have bigger spreads, and the actual fee incurred by a regular customer (e.g. with their bank) can be significant. Stablecoins often make it possible to skip conversions that would otherwise happen.

* Access to USD-based functionality. The US is the world's most sophisticated financial services market. Having a stablecoin means "having an on-chain asset", but it also typically means "having a USD asset", and a lot of major parts of the ecosystem (e.g. US equities and credit markets) primarily, or only, deal with US dollars.

Acknowledging the obvious, a reflexive answer frequently invoked here is "it's regulatory arbitrage", but I think this is some combination of misguided and incurious as an explanation. First, stablecoins are now formally regulated in the US (with the GENIUS Act) and in Europe (under MiCA), so their use is now very explicitly regulated. Secondly, it implicitly assumes that the only reason one would seek an alternative to the traditional ways of doing things is because someone is doing something illegitimate. I think this usually indicates a lack of understanding of the challenges, complexities, and costs associated with high-volume cross-border money movement. Indeed, and somewhat ironically given the claim, one of Bridge's large customers is the US government.

Importantly, none of these businesses are using crypto because it's crypto or for any speculative benefit. They're performing real-world financial activity, and they've found that crypto (via stablecoins) is easier/faster/better than the status quo ante.

That said, I'm somewhat skeptical of the safety argument, which I often hear. For example, 60 workers were apparently killed during the construction of the World Trade Center[0] -- 4x more deaths than occurred during the construction of the Empire State Building. Nor is it a priori clear to me that safety and speed would necessarily be in opposition -- maybe better planning causes both more safety and more speed, for example. I'd certainly be interested in a more comprehensive investigation of this question.

I'm also somewhat doubtful of cost-of-labour explanations. Wouldn't it be rational for some organizations to pay a lot more to get people to work longer hours if that's all that's going on? (It would almost certainly be cheaper to do that than to have the project take twice as long in total.) And why did many of the instances enumerated on the page happen in relatively high cost (for the time) locations, like New York, DC, and San Francisco, rather than in cheaper places?

I do believe that state/military intervention clearly plays some role in a few, but there are certainly plenty of examples of remarkably slow military projects, and many of the projects on the page have nothing to do with the military. (Empire State Building, Golden Gate Bridge, Boeing 747, NYC Subway.)

So, I haven't found a satisfying explanation, and I'd be curious to read other analyses or diagnoses.

[0] https://en.wikipedia.org/wiki/Construction_of_the_World_Trad...

We obviously never intentionally ghost companies, “mine them for information”, etc. The ecosystem is small and we wouldn’t be able to invest in and acquire companies if we didn’t have a reputation for good behavior. (And we’ve invested in dozens.) But maybe some communication got dropped in some particular case or something? I don’t know.

All of that said, I’d appreciate hearing from any founders who feel mistreated as part of an acquisition process. We make a fairly significant number of acquisitions and have never heard this directly before.

More than 10,000 people have interviewed at Stripe so far this year, so "several sigma bad" still happens to an unfortunate number of people. That said, we want those who interact with Stripe to come away having been treated professionally and respectfully, and our recruiting team cares about fixing our process failures. On behalf of Stripe, I apologize.

(There is proof that significant financial resources aren't needed to do great work in a lot of personal websites. Most recent example I came across: https://bruno-simon.com.)