Paradigm’s Matt Huang to Head Stripe’s Payments-Focused Blockchain Project as CEO
Main Idea
Stripe has appointed Paradigm cofounder Matt Huang as CEO of its planned payments-focused blockchain, Tempo, which is designed to power Stripe’s stablecoin business amid rising competition in blockchain payments.
Key Points
1. Matt Huang, cofounder and managing partner of Paradigm, will become the first CEO of Tempo, Stripe’s new payments-focused blockchain project.
2. Tempo is a high-performance, Ethereum-compatible layer-1 blockchain designed to support Stripe’s stablecoin business.
3. Stripe has been expanding its crypto involvement, including launching stablecoin payment options in 2024, which saw adoption in 70 countries.
4. Paradigm, with $12.7 billion in assets under management, has invested in major crypto projects like Uniswap and Fireblocks.
5. The move comes as competition in blockchain payments intensifies, with companies like PayPal also entering the stablecoin space.
Description
Stripe is making a bold move into the blockchain space with its planned network, Tempo, and has tapped one of crypto’s most prominent venture capitalists to lead it. Key Takeaways: Stripe has appointed Paradigm cofounder Matt Huang as CEO of its planned payments-focused blockchain, Tempo. Tempo will be a high-performance layer-1 designed to power Stripe’s stablecoin business. The move comes amid rising competition in blockchain payments. Matt Huang, cofounder and managing partner of Paradigm, wi...
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