The tender offer is primarily being funded by the firm’s investors, like a16z and Thrive Capital, though it will use some of its own funds to buy back shares.
The valuation puts the firm in the range of consumer products giant Unilever (UL) and pharmaceuticals firm Pfizer (PFE), which trade around $163 billion and $154 billion, respectively.
At its current mark, the privately held payments company is valued just behind banking giant Charles Schwab (SCHW) which was recently trading around $169 billion.
Stripe’s own stablecoin orchestration platform, Bridge, saw volume more than quadruple last year, according to the company.
“It may be a crypto winter, but it’s a stablecoin summer,” the Collison brothers wrote. “Stablecoin payments are advancing quietly and inexorably as real-world uptake continues apace.”
The network, which remains in testnet, has already welcomed major firms like “Visa, Nubank, and Shopify,” who are “already testing Tempo for a number of use cases, including global payouts, embedded finance, and remittances,” the company letter noted.
