Stripe's Secret Blockchain Project: Tempo Revealed

Stripe Enters the Blockchain Arena with 'Tempo'

Stripe, the $92 billion fintech powerhouse, is quietly building a new blockchain called 'Tempo,' according to leaked job postings and inside sources. This move signals a deeper commitment to the crypto space.

Key Details of Project Tempo

• Purpose: Designed as a high-performance, payments-focused blockchain.
• Partnership: Being developed in collaboration with Paradigm, a crypto venture capital firm.
• Layer-1: Built from scratch, not on top of existing protocols.
• Compatibility: Compatible with Ethereum's coding language.
• Stealth Mode: Currently operating in secret, with a small team of five.

Stripe's Crypto Expansion

Tempo is the latest in a series of crypto-related moves by Stripe:

• Bridge Acquisition: Acquired stablecoin infrastructure firm Bridge for $1.1 billion.
• Privy Purchase: Bought crypto wallet developer Privy (price undisclosed).

Key Takeaways

• Stripe's entry into blockchain development could accelerate stablecoin adoption.
• A proprietary blockchain gives Stripe more control over the stablecoin payment stack.
• Stripe's involvement underscores the growing convergence of traditional finance and crypto.

Stablecoins: The Future of Payments?

Stripe's CEO, Patrick Collison, has expressed enthusiasm for stablecoins, highlighting their potential to improve payment efficiency and reduce costs compared to traditional systems. With 'Tempo,' Stripe is positioning itself to play a major role in this evolving landscape.