Stripe is constructing a brand new blockchain dubbed Tempo with crypto enterprise agency Paradigm, in response to a now-removed job posting dated Aug. 3 on the Blockchain Affiliation web site.
The function sought a product marketer with Fortune 500 expertise, signaling an enterprise push, in response to Fortune.
The transfer coincides with the event of different stablecoin-focused blockchains. These embody Plasma, which drew over $373 million in an oversubscribed token sale, and Tether-focused blockchain Steady.
Curiosity within the $270 billion stablecoin sector has been rising exponentially. Trump’s current signing of the GENIUS Act into regulation has helped increase the sector, because it established a regulatory framework for the sector within the U.S.
Tempo is described as a “high-performance, payments-focused” layer 1 that may run code suitable with Ethereum. The venture is in stealth with a crew of 5, Fortune studies citing sources accustomed to the hassle. It’s unclear whether or not it’ll have its personal native token.
The blockchain’s growth marks one other step in Stripe’s crypto technique, which noticed it purchase stablecoin platform Bridge for $1.1 billion final October. The agency has additionally acquired crypto pockets startup Aware of increase its Web3 capabilities, and has explored financial institution partnerships on stablecoins.
