Stripe is building a new blockchain called Tempo with Crypto Venture Firm Paradigm, according to a Nu-Removed Job that was posted dated August 3 at the Blockchain Association site.
That role sought a product marketer with Fortune 500 experience that signaled a company’s push, according to Fortune.
The move coincides with the development of other stablecoin -focused blockchains. These include plasma, which drew over $ 373 million in an oversubscribed token sale and tied focused blockchain-stall.
The interest in the $ 270 billion stableecoin sector has grown exponentially. Trump’s recent signature of the genius law in the law has helped to increase the sector as it established a regulatory framework for the sector in the United States
Tempo is described as a “high-performance, paying-focused” layer 1 that runs code compatible with ethereum. The project is in Stealth with a team of five, reports Fortune, citing sources familiar with the effort. It is unclear whether it will have its own native token.
Blockchain’s development marks another step in Stripe’s Crypto Strategy, which then acquires the StableCoin Platform Bridge for $ 1.1 billion last October. The company has also acquired Crypto Wallet starts, which is interested in expanding its Web3 capabilities and has explored banking partnerships about stablecoins.
