According to a report by Golden Finance, financial technology giant Stripe is collaborating with cryptocurrency venture capital firm Paradigm to develop a high-performance, payment-focused Layer 1 blockchain called 'Tempo', as recently announced in a job posting on the website of the Blockchain Association, a cryptocurrency lobbying group. The project team is small and currently in a secretive phase, compatible with Ethereum's programming language. In recent years, Stripe has intensified its efforts in the cryptocurrency space, having acquired stablecoin infrastructure company Bridge for $1.1 billion and cryptocurrency wallet developer Privy, establishing a stablecoin ecosystem. Stripe CEO Patrick Collison has stated that as the technology matures, stablecoins are gaining substantial commercial attention. The Tempo blockchain will allow Stripe to control the critical layer of stablecoin transaction processing, but the company has not disclosed whether it plans to issue a corresponding cryptocurrency.

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