Stripe partners with Paradigm to develop Tempo blockchain

According to Fortune, fintech giant Stripe is collaborating with crypto venture capital firm Paradigm to develop a blockchain called Tempo. The project is positioned as a high-performance, payment-focused Layer 1 blockchain compatible with the Ethereum programming language. Tempo is currently in stealth development with a team of five. Previously, Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion and crypto wallet developer Privy, furthering its stablecoin technology development.