Stripe has partnered with crypto investment firm Paradigm to create a blockchain network focused on payment applications.
The project, called Tempo, has not yet been publicly announced and remains under development by a small internal team. According to information contained in a recent recruitment listing, Tempo will operate as a Layer 1 blockchain, meaning it will function independently rather than being built on top of another protocol. It is expected to support Ethereum’s programming language, potentially lowering the entry barrier for developers who already build on Ethereum.
While Stripe has not issued formal statements on the matter, recruitment materials and individuals familiar with the plans indicate that the network’s design is tailored specifically for payment processing.
A wider stablecoin and crypto strategy
The development follows Stripe’s recent acquisitions aimed at strengthening its cryptocurrency infrastructure. Earlier this year, the company purchased Bridge, a stablecoin infrastructure provider, in a deal reportedly valued at USD 1.1 billion. It also acquired Privy, a developer of crypto wallet technology.
Officials from Stripe have previously pointed to stablecoins as a promising alternative to existing payment rails such as SWIFT, particularly for cross-border transactions that require speed and cost efficiency. The Tempo blockchain could allow the firm to oversee the servers handling stablecoin transactions directly, giving it more control over this segment of its operations.
Industry observers note that the move reflects an effort to build a complete payment ecosystem incorporating stablecoin issuance, wallet services, and now a dedicated blockchain layer. This could position Stripe to compete more directly with other companies integrating blockchain into financial services, especially as demand for payment-focused digital assets continues to grow.
