Payment company Stripe is collaborating with Paradigm to develop the "Tempo" blockchain.

BlockBeats News, August 12th, According to Fortune report, payment company Stripe is collaborating with Paradigm to develop the "Tempo" blockchain. A job posting indicates that Tempo is currently in stealth mode, with a team size of 5. Matt Huang, co-founder and managing partner of Paradigm, is also a board member of Stripe.

The recruitment ad mentions that candidates applying for this marketing position should have "experience in marketing to Fortune 500 companies." According to four anonymous sources familiar with the matter (all requested anonymity due to private business discussions), Tempo is a Layer 1 blockchain, meaning it is not a chain built on top of another protocol, and it is compatible with the programming language used by the Ethereum blockchain.

Spokespersons for Stripe and Paradigm both declined to comment. After Fortune magazine contacted both companies, the job posting has been taken down. Tempo is the latest crypto bet by Stripe. Relying on providing seamless online checkout and automated invoicing payment products for businesses, Stripe has grown into a company valued at nearly $92 billion.

Last October, Stripe announced an $11 billion acquisition of stablecoin infrastructure company Bridge, marking its largest acquisition to date. Then, in June, the payment giant acquired crypto wallet developer Privy (price undisclosed).