Payment company Stripe is collaborating with Paradigm to develop the "Tempo" blockchain

ChainCatcher news, according to Fortune, payment company Stripe is collaborating with Paradigm to develop the "Tempo" blockchain. Job postings indicate that Tempo is currently in stealth mode, with a team size of 5 people. Matt Huang, co-founder and managing partner of Paradigm, is also a board member of Stripe.

The job advertisement mentions that candidates applying for the market position should have "experience in marketing to Fortune 500 companies." According to four insiders (who requested anonymity due to private business discussions), Tempo is a Layer 1 blockchain, meaning it is not built on other protocols, and it is compatible with the programming languages used by the Ethereum blockchain.

Spokespeople for Stripe and Paradigm declined to comment. After Fortune contacted both companies, the job posting was removed. Tempo is Stripe's latest bet in the crypto space. Stripe has grown into a company valued at nearly $92 billion by providing businesses with convenient online checkout and automated invoicing payment products.

In October last year, Stripe announced the acquisition of stablecoin infrastructure company Bridge for $1.1 billion, its largest acquisition to date. In June, the payment giant also acquired crypto wallet developer Privy (price undisclosed).