Stripe Develops New Blockchain ‘Tempo’ in Partnership with Paradigm
Stripe is developing a blockchain named Tempo in collaboration with Paradigm. A job posting, since removed, indicated the need for a product marketer with Fortune 500 experience, pointing to an enterprise focus.
Key points include:
- Tempo is a high-performance, payments-focused layer 1 blockchain compatible with Ethereum.
- The project operates in stealth mode with a team of five.
- Interest in the $270 billion stablecoin sector is increasing, aided by the recent signing of the GENIUS Act, which provides a regulatory framework in the U.S.
- Other stablecoin-focused blockchains are emerging, such as Plasma, which raised over $373 million, and the Tether-focused blockchain Stable, which secured $28 million.
- This development aligns with Stripe's crypto strategy, including its $1.1 billion acquisition of the stablecoin platform Bridge and the acquisition of crypto wallet startup Privy.