Stripe appoints Matt Huang, co-founder of Paradigm, to lead its blockchain Tempo, while maintaining his role at the $12.7 billion fund.
Tempo will be a layer 1 blockchain aiming to become the global standard for crypto payments in a US regulated stablecoins market under the GENIUS Act.
Stripe will compete with rivals like Plasma or Stable, relying on Huang’s technical and strategic expertise to establish dominance.
Paradigm’s Headline Joins Stripe’s Tempo Blockchain
Stripe continues its expansion in the crypto ecosystem. The online payment giant entrusts the reins of its future blockchain Tempo to Matt Huang, co-founder and managing partner of Paradigm, one of the market’s most influential crypto funds. Already a board member at Stripe, Huang will take on this new role while remaining at the helm of Paradigm.
With Tempo, Stripe aims for a clear goal: to become the global standard for blockchain payments. We’re talking about a performant layer 1 blockchain designed for transactions, and most importantly, compatible with Ethereum, a strategic asset to attract developers and seamlessly integrate into the existing ecosystem.
A Bet on a Booming Market
Why this acceleration? Because the stablecoins market, a crucial fuel for crypto payments, is booming. Its capitalization now exceeds $270 billion, and the momentum has further strengthened with the recent signing of the GENIUS Act in the United States by Donald Trump. This law finally provides a clear regulatory framework for stablecoins, paving the way for massive adoption in payments.
Stripe is not alone in this arena. Projects like Plasma, which raised $373 million in an oversubscribed token sale, or the Stable blockchain dedicated to Tether, are also positioning themselves to grab a piece of the pie. Tempo will have to play the cards of speed, reliability, and seamless integration with current Web3 standards.
Matt Huang: A Profile Fitted for Ambition
Matt Huang doesn’t come empty-handed. A former partner at Sequoia Capital, he co-founded Paradigm in 2018, a fund that now manages $12.7 billion and has invested in industry giants like Uniswap or Fireblocks. His expertise in technical, financial, and strategic realms could be a decisive asset to establish Tempo in the jungle of payment blockchains.
The choice of Huang also reflects a broader trend: big fintech players are now hiring prominent figures from the crypto ecosystem to lead their blockchain projects, accelerating the convergence between traditional finance and web3.
A Still Mysterious Launch
Stripe keeps the suspense: no launch date or information on a potential Tempo token creation has been confirmed yet. This strategic silence could hide an ambitious roadmap or a desire to finalize the technology before entering the marketing battle.
One thing is certain: with a stablecoins market boosted by regulation, an architecture designed for speed and Ethereum compatibility, and a strategist like Matt Huang at the helm, Tempo could well become one of the next heavyweights in decentralized finance applied to payments.
