Payments giant Stripe is developing “Tempo,” a high-performance Layer 1 blockchain focused on payments, in partnership with crypto venture capital firm Paradigm, according to a job posting discovered on the Blockchain Association website.
As per Fortune report, the stealth project represents Stripe’s most ambitious crypto initiative yet, building on its recent $1.1 billion acquisition of stablecoin infrastructure firm Bridge and purchase of crypto wallet developer Privy.
The job advertisement, dated August 3 and subsequently removed after Fortune’s inquiry, described Tempo as Ethereum-compatible with a five-person team targeting Fortune 500 companies.
Paradigm’s Matt Huang, who sits on Stripe’s board, is partnering on the blockchain development as the company builds a comprehensive crypto infrastructure spanning wallets, stablecoins, and now blockchain processing.
Strategic Infrastructure Play Completes Crypto Stack Domination
Stripe’s blockchain development follows a methodical acquisition strategy that began with Bridge’s stablecoin payment platform and continued with Privy’s wallet infrastructure.
The Tempo blockchain would control the server layer processing stablecoin transactions, creating end-to-end crypto payment solutions.
The company’s crypto journey started in 2014 as the first major processor supporting Bitcoin transactions.
After halting Bitcoin support due to network inefficiencies, Stripe rebuilt its blockchain team in 2021 and accelerated crypto initiatives throughout 2024.
Stripe launched stablecoin payments across 70 countries in October 2024, followed by Stablecoin Financial Accounts, enabling companies in 101 countries to hold and transact digital dollars.
The platform currently supports Circle’s USDC and Bridge’s USDB tokens.
Earlier in May, the company partnered with Ramp to launch stablecoin-backed corporate cards addressing cross-border payment delays, high fees, and currency volatility.
The cards initially launched in Latin American markets before expanding to Europe, Africa, and Asia.
This strategic stablecoin front-running is not a coincidence. Stripe CEO Patrick Collison testified to Congress in March that the company sees “meaningful business interest in stablecoins as the underlying technology has matured.”
The GENIUS Act’s passage in July provided a federal regulatory framework spurring corporate adoption.
Corporate Giants Rush Into Regulated Stablecoin Territory
The stablecoin sector has exploded to over $250 billion in market capitalization following regulatory clarity from the GENIUS Act.
Ripple CEO Brad Garlinghouse has recently projected stablecoin growth to $1-2 trillion within the next few years as corporations embrace digital dollar solutions.
In light of this boom, a recent report covered by Cryptonews shows MetaMask is planning to launch “MetaMask USD” through a partnership with Stripe’s payment infrastructure, leveraging its 30 million monthly active users to challenge USDC dominance.
The proposal outlines building on the M⁰ network with Stripe, providing regulatory clarity and fiat backing.
Similarly, Western Union CEO Devin McGranahan announced pilot programs in South America and Africa to modernize remittance operations through stablecoins.
Interactive Brokers founder Thomas Peterffy has also confirmed exploring stablecoin launches for real-time brokerage account funding.
Additionally, Remitly launched beta testing for multi-currency digital wallets supporting fiat and stablecoins, with live deployment scheduled for September.
The company integrated USDC into treasury operations while adding stablecoin payouts through Bridge infrastructure.
The competitive landscape intensified with approximately 20 million addresses now transacting stablecoins on public blockchains.
Amazon, Walmart, JD.com, and Alipay continue exploring stablecoin integration as adoption accelerates across traditional finance sectors.
Notably, the massive adoption of stablecoin currently puts the US Dollar on the most beneficial side.
Federal Reserve Governor Christopher Waller recently acknowledged that 99% of stablecoin market capitalization links to the US dollar, believing “stablecoins can keep the dollar the world’s reserve currency” by increasing global accessibility.
Looking forward, Stripe’s Tempo blockchain would position the $92 billion company to capture stablecoin transaction processing directly rather than relying on external networks.
The Ethereum-compatible Layer 1 could facilitate instant adoption by leveraging Stripe’s extensive merchant network, which spans millions of businesses worldwide.
The post Payment Giant Stripe Building ‘Tempo’ Blockchain with Crypto VC Paradigm: Report appeared first on Cryptonews.
