Stripe is reportedly developing a payments-focused Layer 1 blockchain called Tempo in collaboration with venture capital firm Paradigm. The project was disclosed through a job listing on the Blockchain Association’s careers board, which was later removed after queries were made. Analysts suggest that Tempo may provide predictable fees and performance, although its success could depend on privacy and accessibility. This development follows Stripe's recent acquisitions, including the $1.1 billion purchase of stablecoin infrastructure firm Bridge and the acquisition of digital wallet developer Privy. A proprietary Layer-1 chain would give Stripe more control over transaction processing, thereby reducing dependency on existing public blockchains like Ethereum. Industry experts believe Tempo must address user experience and privacy concerns effectively to stand out in the competitive blockchain landscape.

Source 🔗