Stripe is rumored to be working on its own layer-1 blockchain, “Tempo,” in collaboration with the crypto venture capital firm Paradigm. Like Stripe’s other Fortune 500-focused initiatives, this one is a big leap forward in Stripe’s deepening commitment to digital-asset infrastructure. An equally stealthy project execution team of five has been collaborating to build the project. That represents a significant shift for the payments processing behemoth.
Tempo is billed as a high-performance, payments-focused blockchain that’s compatible with Ethereum’s EVM programming language. Stripe has not publicly confirmed the project. A recent job advertisement for a new product-marketing lead for Tempo — posted on August 3 — makes clear that the company has its eyes set on much bigger things in the blockchain space. Spokespeople for Stripe have refused to comment on the project.
Stripe also made waves in the crypto community this last month with strategic acquisitions. In addition, in October they purchased stablecoin platform Bridge for $1.1 billion and back in June they had purchased crypto-wallet developer Privy. These acquisitions, combined with the launch of Tempo, are a clear indication that Stripe is serious about deeply integrating blockchain technologies into its core offerings.
At the beginning of March, Stripe’s CEO, Patrick Collison, presented his vision to U.S. legislators. He went on to stress that firms do indeed have a “substantial” stake in stablecoins. This announcement further highlights the company’s clear intent to capitalize on the strategic potential of blockchain technology to deliver payment solutions.
Stripe is currently valued at about $92 billion. This move not only places the company and its late, visionary founder in a strong position to influence the emerging blockchain payments landscape. The development of Tempo, in collaboration with Paradigm, highlights Stripe's dedication to innovation and its vision for the future of digital payments.
