Payment Giant Stripe Building ‘Tempo’ Blockchain with Crypto VC Paradigm: Report
Main Idea
Payment giant Stripe is developing 'Tempo,' an Ethereum-compatible Layer 1 blockchain focused on payments, in partnership with crypto VC Paradigm, targeting Fortune 500 companies as part of its strategic expansion into crypto solutions.
Key Points
1. Stripe is building 'Tempo' blockchain with Paradigm, as revealed by a now-removed job posting, aiming to create high-performance payment solutions for large enterprises.
2. The initiative follows Stripe's $1.1 billion acquisition of Bridge's stablecoin payment platform and Privy, signaling a methodical push into crypto infrastructure.
3. Stripe's crypto strategy includes supporting stablecoins like USDC and USDB, with CEO Patrick Collison advocating for regulatory clarity under the GENIUS Act.
4. Corporate adoption of stablecoins is growing, with companies like MetaMask, Western Union, and Amazon exploring integrations, driven by a $250B+ market cap and regulatory frameworks.
5. Tempo could leverage Stripe's merchant network for rapid adoption, positioning it as a key player in bridging traditional finance and blockchain payments.
Description
Payments giant Stripe is developing “Tempo,” a high-performance Layer 1 blockchain focused on payments, in partnership with crypto venture capital firm Paradigm, according to a job posting discovered on the Blockchain Association website. As per Fortune report , the stealth project represents Stripe’s most ambitious crypto initiative yet, building on its recent $1.1 billion acquisition of stablecoin infrastructure firm Bridge and purchase of crypto wallet developer Privy. The job advertisement, ...
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