Stripe and Paradigm Team Up to Launch High-Performance Blockchain ’Tempo’

Stripe, the fintech powerhouse behind seamless online payments, is venturing deeper into crypto with its new blockchain project, Tempo. Developed in collaboration with Paradigm, a leading crypto venture capital firm, Tempo is described as a high-performance, payments-focused blockchain. The project, currently in stealth mode with a five-person team, is Ethereum-compatible and aims to streamline transactions for Fortune 500 companies. Stripe’s move into blockchain follows its recent acquisitions of stablecoin infrastructure firm Bridge and crypto wallet developer Privy.

The rise of stablecoins has fueled Stripe’s crypto ambitions, with the company positioning itself at the forefront of this emerging technology. Stablecoins, which are pegged to assets like the U.S. dollar, promise faster, cheaper cross-border payments compared to traditional systems like SWIFT. Stripe’s CEO, Patrick Collison, has highlighted growing business interest in stablecoins as the technology matures. With Bridge and Privy under its belt, Stripe now controls key layers of the stablecoin tech stack, from issuance to wallet management. Tempo could further solidify its dominance by providing the underlying blockchain infrastructure.

While Stripe hasn’t disclosed plans to issue its own cryptocurrency, the development of Tempo signals its commitment to shaping the future of payments. The job posting for Tempo’s product marketing role, since removed after Fortune’s inquiry, sought candidates with experience targeting Fortune 500 audiences. As Big Tech giants like Meta and Apple explore stablecoins, Stripe’s aggressive investments in crypto infrastructure position it as a leader in this rapidly evolving space.

StripeParadigmTempoblockchaincryptopaymentsfintechstablecoinsEthereumventure capital