Tempo, a San Francisco-based payments-first Layer 1 blockchain, purpose-built for stablecoin payments at scale, is taking the next step toward accelerated growth following an investment from Coupang, the U.S.-based commerce and technology company, announced in early 2026. Coupang’s investment in Tempo is part of the company’s more than $84 million in investments since 2023 in AI-driven technology companies, continuing its efforts to leverage innovative U.S. technologies to benefit consumers and businesses in Korea and the U.S., and to redefine the future of global commerce.
The companies’ shared work is aligned with the U.S.-Korea Technology Prosperity Deal, which focuses on expanding technology ties between the two countries to strengthen shared priorities and accelerate research and development. As a U.S. technology company and retailer, Coupang operates in more than 190 countries and regions around the world, including Korea, where the company has significant retail, logistics and fulfillment operations.
“Coupang serves millions of customers around the world, and plays a vital role driving collaboration in commerce and technology innovation in Korea and the U.S.,” said John Hughes, head of AI and Innovation Policy at Coupang. “We will continue investing in innovative start-ups to drive better outcomes for our customers and the businesses we work with.”
Coupang also recently invested $50M in the SBVA Korea Sovereign AI Fund which is focused on accelerating AI and technology innovation in Korea, matching a $50M investment by the Korea Venture Investment Corporation (KVIC), Korea’s government-backed agency that supports Korea’s venture capital ecosystem. This follows Coupang’s previous investment in the SBVA Alpha Korea Fund in 2023, which is focused on supporting Korean startups across a range of technologies and sectors to help them expand globally.
Building a new stablecoin-based payments and settlements system
Coupang and Tempo are working together with Woori Bank in South Korea to build the foundation of an innovative new stablecoin-based system for payments. The three companies recently completed Korea’s first end-to-end proof of concept (PoC) for KRW stablecoin payments and settlements in a commercial consumer service. Woori Bank provided the on-ramp and off-ramp functionality, connecting digital wallets with bank accounts to convert between stablecoins and fiat currency.
The successful trial showed how stablecoins can connect consumer payments, merchant settlement and existing banking infrastructure in a single commercial workflow.
Stablecoins in commercial services
The Coupang, Tempo and Woori Bank PoC shows how those onchain capabilities can connect to the financial system that people and businesses already use. Coupang managed the commercial payment experience on top of Tempo’s settlement layer, while Woori Bank connected stablecoin balances to bank accounts and fiat currency. The result is a practical model for bringing stablecoin payments into everyday commerce.
“Seeing Coupang and Woori Bank test a complete merchant payment flow together is a clear signal that stablecoins are moving into everyday commerce,” Tempo’s Go-to-Market leader Nischay Upadhyayula said in the press release announcing the PoC. “We’re excited to see Tempo provide the settlement layer to enable these payment flows to work seamlessly.”
What’s next
Coupang is committed to driving the evolution of next-generation payment systems by exploring blockchain-based innovations across a range of banking partners and technology platforms, including its initial work with Tempo and Woori Bank.
By connecting a major digital retail provider and a major bank through a real consumer payment flow based on stablecoin, Coupang, Tempo and Woori Bank are showing how such a payment system can greatly enhance capital and cash flow management for consumers and businesses in the future, driving faster service and faster growth for all.
