Stripe collaborates with Paradigm to develop L1 blockchain Tempo

According to a recent job posting on the website of the Blockchain Association, a cryptocurrency lobbying group, fintech giant Stripe is partnering with crypto venture capital Paradigm to develop a high-performance, payment focused Layer 1 blockchain called "Tempo". The project team is small in scale and currently in the secret stage, compatible with Ethereum programming language. In recent years, Stripe has increased its focus on the cryptocurrency industry by acquiring stablecoin infrastructure company Bridge ($1.1 billion) and cryptocurrency wallet developer Privy, laying out the stablecoin ecosystem. Stripe CEO Patrick Collison has stated that as technology matures, stablecoins are gaining substantial commercial attention. The Tempo blockchain will enable Stripe to control the key layer of stablecoin transaction processing, but the company has not yet announced whether it plans to issue a matching cryptocurrency.