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Matt Huang, co-founder of VC firm Paradigm, will lead Stripe’s blockchain project, Tempo, while staying at Paradigm.
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Tempo is an EVM-compatible Layer 1 blockchain focused on payments, built in partnership between Stripe and Paradigm.
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Stripe’s move follows its acquisitions in crypto infrastructure and growing blockchain-related partnerships.
Huang Takes the Helm
Fortune reports that Matt Huang, co-founder and managing partner at Paradigm, will serve as CEO of Stripe’s blockchain project Tempo while continuing his role at the VC firm. Huang also sits on Stripe’s board, giving him close ties to the $92 billion fintech giant.
Details on Tempo
Tempo is described as a high-performance, payments-focused Layer 1 blockchain, EVM-compatible and still in stealth mode. A now-deleted job posting indicated Stripe is building Tempo in partnership with Paradigm, seeking talent with both crypto-native and corporate experience.
Corporate Blockchain Push
The project follows Stripe’s recent blockchain-related moves, including its $1.1 billion acquisition of stablecoin infrastructure firm Bridge in 2024, a partnership with Coinbase to integrate Base network payments, and the acquisition of crypto wallet firm Privy earlier this year.
Industry Context
Stripe isn’t alone in developing proprietary blockchain infrastructure — Circle and Robinhood have also announced their own networks. Tempo’s timeline for launch is unclear, and Stripe has not announced whether it plans to release its own token.
