Stripe Appoints Matt Huang as CEO of Upcoming Blockchain Tempo
Stripe has appointed Matt Huang, co-founder and managing partner of Paradigm, as CEO of its upcoming blockchain project, Tempo. Huang retains his position at Paradigm.
Key points:
- Tempo aims to be a payments-focused layer 1 blockchain compatible with Ethereum.
- Huang is currently on Stripe's board and previously helped manage $12.7 billion in assets at Paradigm.
- The stablecoin market has a capitalization of $270 billion, influenced by the recent signing of the GENIUS Act in the U.S., which established a regulatory framework for the sector.
- Other notable stablecoin-focused blockchains include Plasma and Stable.
The timeline for Tempo's launch and whether it will have its own token remains unclear.