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The project is in stealth mode and may have a team of five, with plans to run code compatible with Ethereum.
Aug 12, 2025, 9:07 a.m.
Stripe is building a new blockchain dubbed Tempo with crypto venture firm Paradigm, according to a now-removed job posting dated Aug. 3 on the Blockchain Association website.
The role sought a product marketer with Fortune 500 experience, signaling an enterprise 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 Tether-focused blockchain Stable.
Interest in the $270 billion stablecoin sector has been growing exponentially. Trump’s recent signing of the GENIUS Act into law has helped boost the sector, as it established a regulatory framework for the sector in the U.S.
Tempo is described as a “high-performance, payments-focused” layer 1 that will run code compatible with Ethereum. The project is in stealth with a team of five, Fortune reports citing sources familiar with the effort. It’s unclear whether it’ll have its own native token.
The blockchain’s development marks another step in Stripe’s crypto strategy, which saw it acquire stablecoin platform Bridge for $1.1 billion last October. The firm has also acquired crypto wallet startup Privy to expand its Web3 capabilities, and has explored bank partnerships on stablecoins.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
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What to know:
- FG Nexus has acquired 47,331 ETH worth about $200 million at $4,228.40 per token, and is aiming to become one of the world’s largest corporate holders of ether.
- The company is channeling proceeds from a $200 million private placement into ETH purchases, with plans to boost “ETH Yield” through staking, restaking, and participation in Ethereum-based finance.
- CEO Kyle Cerminara targets a 10% stake in the Ethereum network, with holdings secured by Anchorage Digital, whose CEO hailed the move as a long-term bet on ETH’s future.
