According to PANews, Stripe has appointed Matt Huang, co-founder and managing partner of Paradigm, as the first CEO of its new blockchain project, Tempo. Huang will continue in his role at Paradigm while leading Tempo, which is designed as a high-performance layer-one blockchain focused on the payments sector and compatible with the Ethereum code. Recently, Stripe acquired the stablecoin company Bridge and the wallet service provider Privy to enhance its stablecoin technology. It is still unclear whether Tempo will issue its own token, and the project's launch date has not been disclosed. Previously, it was reported that Stripe and Paradigm are collaborating on the development of the Tempo blockchain.