Stripe and Paradigm Launch Blockchain for Stablecoins

OpenAI, Anthropic, Visa are among initial partners for the new blockchain.

Stripe and Paradigm, a crypto venture firm, said they are launching a new blockchain called Tempo focusing on stablecoin payments in the real world, such as payroll and remittances, the latest push by Stripe into crypto payments after acquiring stablecoin infrastructure firm Bridge in a $1.1 billion deal this year.

The companies are building the blockchain with input from partners including Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa.

Tempo is an independent company, with Stripe and Paradigm as the first investors, said Stripe CEO Patrick Collison in a tweet. Tempo is led by Matt Huang, co-founder and managing partner of Paradigm, who will also continue his existing role at Paradigm.