US fintech company Stripe has started developing its own blockchain called Tempo, Fortune Crypto reports, citing a job listing posted on August 3 on the Blockchain Association website. The project is positioned as a high-performance network focused on payments and is being built together with venture capital firm Paradigm.
New Stripe Blockchain
In the job posting for a Tempo product marketing manager, the project was described as a standalone Layer 1 network compatible with the programming language used on the Ethereum blockchain. The initiative is being carried out in stealth mode by a team of five people. The description emphasized that candidates should have experience promoting products to a Fortune 500 audience.
According to four sources familiar with the matter, Tempo is not being built on top of existing blockchains but is being created as independent infrastructure. Representatives from Stripe and Paradigm declined to comment, and the job posting itself was removed shortly after Fortune Crypto’s inquiry.
Expanding Presence in the Crypto Industry
In October, Stripe acquired the stablecoin infrastructure platform Bridge for $1.1 billion. In June, the company purchased crypto wallet developer Privy. The deal amount was not disclosed.
The Bridge acquisition provided Stripe with technology to integrate stablecoins into corporate payment processes and issue its own tokens. The Privy deal added tools for creating and managing customer crypto wallets. According to experts, developing its own blockchain would allow Stripe to control another layer of the technology stack - the servers that process stablecoin transactions.
Growing Interest in Stablecoins
Stripe’s activity comes amid surging interest in stablecoins. Proponents believe these tokens can speed up cross-border transfers, reduce fees, and increase payment efficiency compared to traditional systems like SWIFT.
In July, President Donald Trump signed the GENIUS Act, establishing federal regulations for the stablecoin sector. The topic has also attracted major tech players. Meta, Apple, and Airbnb are already exploring the potential integration of such assets.
In March, Stripe co-founder and CEO Patrick Collison told Congress that business interest in stablecoins had significantly increased alongside the technological maturity of the solutions.
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