Forbes reported that the Aug. 3 posting, shared through the Blockchain Association, described Tempo as a “high-performance, payments-focused blockchain” currently operating under the radar with a small, five-person crew. Paradigm’s co-founder and managing partner Matt Huang also happens to sit on Stripe’s board.

Sources familiar with Tempo, who spoke to Forbes on condition of anonymity due to the private nature of the work, revealed it is a layer one (L1) blockchain—built from the ground up rather than on existing frameworks—and will be compatible with Ethereum’s coding language. Forbes also noted that representatives for Stripe and Paradigm had no comment when reached.

The development mirrors a broader trend in which major crypto players, including Binance, Coinbase, and Kraken, industry giants that have launched their own chains. Recently, Robinhood disclosed it is working on a layer two (L2) blockchain, with industry chatter hinting at a debut later this year or in early 2026, though no firm date has been announced.

Stripe, meanwhile, has been on a buying streak. The company acquired crypto wallet infrastructure provider Privy in June, snapped up stablecoin infrastructure firm Bridge for $1.1 billion back in October 2024, and in April talked about plans for a stablecoin product. Taken together—its acquisitions, CEO Patrick Collison’s stablecoin disclosure, and details from Forbes’ insider sources—Stripe appears to be laying the groundwork for something.

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