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Stripe, developing a settlement-focused Practical Blockchain "Tempo": report | CoinDesk JAPAN
It was revealed in a job posting on the Blockchain Association's website dated August 3 that American payment giant Stripe is developing a blockchain named "Tempo" in collaboration with cryptocurrency venture Paradigm. The job posting has since been removed.
The position that was being recruited for was a product marketer with experience at a Fortune 500 company, indicating a focus on the enterprise sector, according to Fortune.
There is a growing movement to develop stablecoin-focused Practical Blockchains. For example, "Plasma," which raised over $373 million in a token sale, and "Stable," which is specialized in Tether's USDT. Recently, it was revealed that Circle is developing the Layer 1 Practical Blockchain "Arc."
The market capitalization of stablecoins has reached 270 billion dollars (approximately 40 trillion yen), attracting significant attention following President Trump's signing of the "GENIUS" law, which provides a regulatory framework for stablecoins.
Tempo is an Ethereum-compatible, "high-performance, settlement-focused" Layer 1 Practical Blockchain. The project is being developed in stealth mode, and according to those involved, the development team seems to consist of about five people. It is currently unknown whether it will have a native token.
The development of Practical Blockchain advances Stripe's cryptocurrency strategy further. The company acquired the stablecoin platform Bridge for $1.1 billion last October. It is also enhancing its capabilities in the Web3 space by acquiring the cryptocurrency wallet startup Privy. Furthermore, it is exploring partnerships with banks related to stablecoins.
|Translation and Editing: CoinDesk JAPAN Editorial Department |Image:
｜Original: Stripe Building Payments Practical Blockchain ‘Tempo’ With Paradigm: Fortune