Stripe partners with Paradigm to develop L1 blockchain Tempo

According to a report by Jinse Finance, recent job postings on the website of the cryptocurrency lobbying group Blockchain Association reveal that fintech giant Stripe is collaborating with crypto venture capital firm Paradigm to develop a high-performance, payment-focused Layer 1 blockchain called “Tempo.” The project team is small, currently operating in stealth mode, and is compatible with Ethereum programming languages. In recent years, Stripe has increased its investment in the crypto sector, having acquired stablecoin infrastructure company Bridge ($1.1 billion) and crypto wallet developer Privy, thereby expanding its presence in the stablecoin ecosystem. Stripe CEO Patrick Collison has stated that as the technology matures, stablecoins are gaining substantial commercial attention. The Tempo blockchain will enable Stripe to control the critical layer of stablecoin transaction processing, though the company has not yet disclosed whether it plans to issue a native cryptocurrency.