The fintech large Stripe is creating a brand new blockchain, in response to a current job posting on a website for the crypto foyer group Blockchain Affiliation. “Tempo is a high-performance, payments-focused blockchain,” reads the job commercial, which is for a product advertising and marketing place and dated Aug. 3.
The posting goes on to say that Tempo is in stealth, has a crew of 5, and is being in-built partnership with Paradigm—a crypto enterprise capital agency whose cofounder and managing associate, Matt Huang, is on the board of Stripe. Candidates for the advertising and marketing place ought to have “expertise advertising and marketing to a Fortune 500 viewers,” per the advert.
The blockchain is a layer 1, or not constructed on prime of different protocols, and it’s suitable with the coding language used on the blockchain Ethereum, in response to 4 sources briefed on the matter. All sources requested anonymity to speak about personal enterprise conversations.
Spokespeople for Stripe and Paradigm declined to remark. The job posting was taken down after Fortune reached out to each firms.
Tempo is the most recent guess on crypto from Stripe, which has grown to an nearly $92 billion valuation on the again of fee merchandise like straightforward on-line checkout and automatic invoicing for companies.
In October, Stripe introduced it was paying $1.1 billion for the stablecoin infrastructure agency Bridge, its largest acquisition so far. And in June, the funds titan stated it purchased the crypto pockets developer Privy. (It didn’t disclose the worth.)
Stripe’s crypto buying spree comes amid a rush of curiosity in stablecoins, or cryptocurrencies pegged to underlying belongings just like the U.S. greenback. Boosters say the crypto belongings are a simpler fee expertise than legacy monetary infrastructure like SWIFT or wires. Additionally they argue that the expertise can scale back cross-border fee prices in addition to reduce down on transaction charges, amongst different advantages.
Though stablecoins have existed for greater than a decade, broader curiosity within the expertise has picked up steam over the previous 12 months, particularly after President Donald Trump signed the GENIUS Act into legislation in July. The invoice outlines federal regulatory steerage and guidelines for the burgeoning sector of crypto.
Stablecoins have turn out to be such a buzzy topic on the earth of funds that even Massive Tech giants like Meta, Apple, and Airbnb are exploring stablecoin integrations—however Stripe is main the cost. “We are actually seeing significant enterprise curiosity in stablecoins because the underlying expertise has matured,” Patrick Collison, cofounder and CEO of Stripe, stated in testimony to the Home in March.
Stripe’s acquisition of Bridge offers the fintech possession of a platform that helps firms combine stablecoins into their fee flows and challenge their very own. And its buy of Privy offers it the power to construct out crypto wallets for purchasers to assist them handle their holdings. A brand new blockchain would enable it to regulate one other layer within the stablecoin tech stack—the servers that course of stablecoin transactions.
Stripe hasn’t publicly acknowledged its causes for constructing a blockchain. It additionally hasn’t stated it intends to challenge a cryptocurrency to assist it—a standard transfer for founders of a brand new crypto protocol.
Replace, Aug. 11, 2025: This text has been up to date to notice that the job posting has since been taken down after Fortune reached out to Stripe and Paradigm for remark.
