According to ChainCatcher, and reported by (Fortune), the payment company Stripe is collaborating with Paradigm to develop the 'Tempo' blockchain. The job posting indicates that Tempo is currently in a stealth mode R&D phase, with a team size of 5. Matt Huang, co-founder and managing partner of Paradigm, is also a member of the Stripe board.
The job advertisement mentioned that candidates applying for the market position should have 'experience in marketing to Fortune 500 companies.' According to four sources familiar with the matter (who requested anonymity due to the private nature of business discussions), Tempo is a Layer 1 blockchain, meaning it is not built on top of other protocols, and it is compatible with the programming languages used by the Ethereum blockchain.
Spokespeople for Stripe and Paradigm both declined to comment. After being contacted by (Fortune) magazine, the job posting has been removed. Tempo is Stripe's latest bet in the crypto space. Stripe has grown into a company valued at nearly $92 billion, relying on payment products like convenient online checkout and automated invoicing for businesses.
In October last year, Stripe announced its acquisition of the stablecoin infrastructure company Bridge for $1.1 billion, which is its largest acquisition to date. In June, the payment giant also acquired the crypto wallet developer Privy (price undisclosed).