Stripe Building Payments Blockchain 'Tempo' With Paradigm: Fortune
Main Idea
Stripe is developing a new Ethereum-compatible blockchain called Tempo in collaboration with Paradigm, focusing on high-performance payments and expanding its crypto strategy.
Key Points
1. Stripe is building a blockchain named Tempo with crypto venture firm Paradigm, as indicated by a now-removed job posting.
2. Tempo is described as a high-performance, payments-focused layer 1 blockchain compatible with Ethereum.
3. The project is in stealth mode with a team of five and aligns with Stripe's broader crypto strategy, including its $1.1 billion acquisition of stablecoin platform Bridge.
4. Stripe has also acquired crypto wallet startup Privy to expand its Web3 personal finance offerings.
5. The development coincides with growing interest in the stablecoin sector, boosted by the GENIUS Act, which established a U.S. regulatory framework for stablecoins.
Description
Stripe is building a new blockchain dubbed Tempo with crypto venture firm Paradigm, according to a now-removed job posting dated Aug. 3 on the Blockchain Association website. The role sought a product marketer with Fortune 500 experience, signaling an enterprise push, according to Fortune . The move coincides with the development of other stablecoin-focused blockchains. These include Plasma , which drew over $373 million in an oversubscribed token sale, and Tether-focused blockchain Stable . Int...
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