El Dorado Raises $9 Million to Scale Stablecoin Payments Across Latin America on Tempo

The fresh Series A funding, however, signals a growing focus on business-to-business infrastructure. El Dorado has launched a cross-border payment service that integrates stablecoin and fiat channels, targeting the nearly $1 trillion cross-border payments market in Latin America, where an estimated 60% of flows are B2B trade-related . This service has already onboarded over 100 companies, with the majority using the platform to import electric vehicles from China — a high-growth trade corridor connecting Chinese EV exporters to Latin American buyers .

A key differentiator for El Dorado’s B2B offering is its focus on underserved “internal corridors” within the region where traditional banking infrastructure is weak or prohibitively expensive. One example repeatedly cited in its funding announcement is the Brazil–Bolivia corridor, where El Dorado aims to lower the cost and complexity of cross-border trade settlements .

The Tempo Backbone: Stripe and Paradigm’s Payments-First L1

El Dorado’s business payments service is built on Tempo, a Layer 1 blockchain incubated by Stripe and Paradigm and purpose-built for high-volume stablecoin payments . First announced by Paradigm co-founder Matt Huang in September 2025, Tempo launched its public testnet in December 2025 and went live on mainnet on March 18, 2026, alongside the Machine Payments Protocol for autonomous AI agent transactions .

According to Paradigm’s original announcement, Tempo was designed from the ground up to handle payments at enterprise scale, with reported capacity of over 100,000 transactions per second, sub-second finality, and fee payments denominated in stablecoins . Design partners working with Tempo during its development included Visa, Deutsche Bank, Shopify, Nubank, and Revolut — an unusually deep bench of institutional collaborators for a new blockchain launch .

Tempo raised its own $500 million Series A round at a $5 billion valuation in October 2025, led by Greenoaks and Thrive Capital, with participation from Sequoia, Ribbit Capital, and SV Angel . Matt Huang, co-founder and managing partner at Paradigm and a Stripe board member, leads the Tempo team as CEO while continuing in his role at Paradigm .

For El Dorado, building on Tempo means the company’s B2B payment rails benefit from a blockchain infrastructure optimized specifically for the kind of high-volume, low-cost, cross-currency trade finance that has historically been difficult to execute across fragmented Latin American banking systems.

What’s Next for El Dorado

The Series A capital will be deployed to scale El Dorado’s stablecoin-powered payment infrastructure further across underserved Latin American markets, deepen its B2B cross-border payment capabilities, and expand into additional internal corridors where traditional banking alternatives are costly or unavailable . With 1 million retail users already on the platform and a fast-growing B2B business anchored by EV trade flows, the company now operates at the intersection of two powerful trends: the institutionalization of stablecoin infrastructure via Tempo, and the region’s continued demand for cheaper, faster cross-border payments.