Stripe To Build ‘Tempo’ Payments Blockchain With Paradigm: Fortune

Stripe To Build ‘Tempo’ Payments Blockchain With Paradigm

Stripe, a private financial technology firm valued at $91.5 billion, is reportedly developing a payments-focused Layer 1 blockchain called Tempo with Paradigm, a crypto and research-driven venture capital firm.

Said to be in stealth, the project was discovered in a product marketing job listing on the Blockchain Association’s careers board that described Tempo as a “high-performance, payments-focused blockchain.”

The post was taken down after Fortune reached out to Stripe to confirm its report. Decrypt has also reached out to Stripe and Paradigm to confirm details.

The reported blockchain buildout follows Stripe’s bolstering of its crypto stack over the past year.

In October, Stripe announced the $1.1 billion purchase of stablecoin infrastructure firm Bridge, to provide rails for integrating and issuing stablecoins in its largest acquisition to date.

While that deal was completed in February, the company followed up in June, buying digital assets wallet developer Privy for an undisclosed sum.

Read more: decrypt.co

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