Stripe and Paradigm Join Forces to Develop the Tempo Blockchain, Focusing on Payment Technology

According to reports, financial technology giant Stripe is collaborating with crypto venture capital firm Paradigm to develop a blockchain called Tempo. This project is positioned as a high-performance, payment-focused Layer 1 blockchain that is compatible with Ethereum's programming language. Tempo is currently in a secret development phase, with a team size of 5. Previously, Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion and acquired crypto wallet developer Privy, further laying out its strategy in stablecoin technology.