Stripe Develops Tempo Blockchain with Paradigm for Enterprise Payments

Payments giant Stripe is reportedly working on a new blockchain project called “Tempo,” in collaboration with crypto venture capital firm Paradigm. According to a job posting uncovered by the Blockchain Association, the Ethereum-compatible Layer 1 blockchain is being developed to serve as a high-performance payments infrastructure, primarily targeting Fortune 500 companies [1]. This initiative marks Stripe’s most ambitious foray into the crypto space to date and follows its recent acquisitions of Bridge, a stablecoin infrastructure firm, and Privy, a crypto wallet developer [1].

The Tempo project is described as a core component of Stripe’s broader strategy to build a comprehensive crypto infrastructure. By acquiring firms that provide stablecoin processing, wallet solutions, and now blockchain development, Stripe aims to control the full stack of digital payment processing. This includes enabling stablecoin transactions to be handled directly on its own blockchain, offering end-to-end solutions for businesses [1].

Stripe’s engagement with crypto began in 2014, when it became one of the first major payment processors to support Bitcoin. However, the company halted Bitcoin support due to network inefficiencies before re-entering the space more strategically in 2021. Since 2024, Stripe has accelerated its crypto initiatives, launching stablecoin payment capabilities in 70 countries and introducing Stablecoin Financial Accounts in 101 countries [1].

The company’s current stablecoin offerings include support for Circle’s USDC and Bridge’s USDB. In May, Stripe partnered with Ramp to launch corporate cards backed by stablecoins, addressing issues related to cross-border payment delays, high fees, and currency volatility [1]. These cards initially launched in Latin America before expanding to Europe, Africa, and Asia.

The strategic move into stablecoin infrastructure aligns with broader industry trends. Regulatory clarity from the passage of the GENIUS Act in July has spurred corporate adoption, with the stablecoin market now surpassing $250 billion in market capitalization [1]. Ripple CEO Brad Garlinghouse has forecast that stablecoin adoption could grow to $1–$2 trillion within the next few years as more companies embrace digital dollar solutions.

Stripe’s Tempo blockchain would allow the company to directly process stablecoin transactions, moving away from reliance on external networks. The Ethereum-compatible infrastructure could facilitate widespread adoption by leveraging Stripe’s extensive global merchant network, which spans millions of businesses worldwide [1].

The broader crypto ecosystem is also seeing increased competition in the stablecoin space. MetaMask is reportedly planning to launch a USD stablecoin in partnership with Stripe, aiming to leverage its 30 million monthly active users to challenge USDC’s dominance [1]. Meanwhile, Remitly has initiated beta testing for multi-currency digital wallets that support fiat and stablecoins, with a live rollout expected in September.

As stablecoin adoption continues to rise, Stripe’s Tempo blockchain could position the company as a key player in the next phase of digital payment infrastructure. The project not only reflects Stripe’s long-term vision for crypto but also underscores its strategic approach to building a full-stack solution for global businesses [1].

Source:

[1] Payment Giant Stripe Building ‘Tempo’ Blockchain with Crypto VC Paradigm: Report (https://cryptonews.com/news/payment-giant-stripe-building-tempo-blockchain/)