Stripe Secretly Working on Crypto Blockchain with Paradigm
Stripe is creating a new blockchain named Tempo, aimed at revolutionizing digital payments.This initiative, developed alongside venture capital titan Paradigm, is aimed at enhancing speed and reducing costs.
The project was uncovered via a discreet career ad posted on the Blockchain Association’s site. The ad highlighted Tempo’s compatibility with Ethereum, allowing seamless request transfers. It pointed to a small but dedicated team, seeking marketing experts skilled in handling Fortune 500 clients.
- High-performance blockchain aligned with Ethereum’s technology.
- Core team looking for marketing experts.
- Aim to enhance payment systems and lower transaction costs.
Matt Huang, Paradigm’s co-founder, links both firms closely. This collaboration follows Stripe’s earlier acquisitions of Privy and bridge,which bolstered their stablecoin capabilities. By controlling a blockchain, Stripe aims to optimize stablecoin transactions, cutting reliance on external systems.
This strategy aligns with Stripe’s broader goal of consolidating roles in stablecoin infrastructure. While no official cryptocurrency launch for tempo has been announced, the potential advantages in settlement speed and cost customization are evident. This project underscores Stripe’s ambition to become a central player in the evolving world of digital payments.
