Stripe is working on a new payments-oriented blockchain called Tempo, developed in collaboration with venture capital firm Paradigm, according to an August 11 Fortune report.
The stealth project came to light through a now-deleted job listing on the Blockchain Association’s career site, which disclosed early details of the initiative.
Tempo is described as a high-performance, Ethereum-compatible layer-1 network designed to let developers seamlessly migrate applications from Ethereum with minimal adjustments. The posting, dated Aug. 3, referenced a five-member core team and sought candidates with experience marketing to Fortune 500 companies.
Four individuals familiar with the project confirmed its Ethereum compatibility, though neither Stripe nor Paradigm has issued public statements. The job ad was removed shortly after Fortune contacted the companies, underscoring the discreet nature of the effort. Paradigm cofounder and managing partner Matt Huang, who sits on Stripe’s board, provides a direct link between the two firms.
The blockchain push follows Stripe’s deeper move into stablecoin infrastructure. In June, the company acquired wallet provider Privy to integrate on-chain account features into its checkout system. Privy enables companies to integrate crypto wallets directly into their platforms. Its clients include NFT marketplace OpenSea, loyalty platform Blackbird, and global employment firm Toku. By October, Stripe closed a $1.1 billion purchase of Bridge, a stablecoin infrastructure firm, enabling businesses to issue and process stablecoin payments.
Over the past year, Stripe has rolled out multiple stablecoin-based products, including payment services targeting emerging markets, Visa-linked merchant cards, and custodial accounts for holding and trading stablecoins. Building its own blockchain could give Stripe more control over settlement speed, reduce reliance on external networks, and allow it to tailor transaction costs for enterprise clients.
While Stripe has yet to confirm whether Tempo will feature a native cryptocurrency, industry analysts note that controlling the base blockchain layer could position the payments giant to dominate the entire stablecoin transaction stack—from wallets to payment processing.
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