Stripe’s Ventures in Cryptocurrency
Stripe, renowned as the largest fintech company globally, is making significant strides in the world of cryptocurrencies. While Stripe hasn’t been as actively involved as PayPal, it has recently embarked on several ventures indicating its interest in the crypto space. Notably, at the end of last year, Stripe acquired the stablecoin company Bridge for $1.1 billion. Now, the company is preparing for an even larger venture.
Stripe’s Cryptocurrency Network
According to a recent job posting on the Blockchain Association’s website, Stripe is developing a new cryptocurrency network. The job opening is related to the product marketing manager position for a blockchain named Tempo. This network is described as a high-performance blockchain focused on payments. Details reveal that Tempo is an undisclosed project with a five-member team and is being developed in collaboration with Paradigm, a leading crypto venture capital firm.
Fortune’s team, by accessing insider sources, has uncovered additional information. For instance, this month marks the development of an EVM-compatible, standalone layer-1 blockchain. This means it is not built on a different crypto protocol but instead has the capacity to run contracts from the Ethereum 
$ 4,252 network.
Stripe, valued at over $92 billion, has previously acquired Bridge in October and the crypto wallet developer Privy in June. With GENIUS ensuring the complete regulation of stablecoins, Stripe’s interest in this area is increasingly apparent.
Stripe, a leading payment platform known for processing payments for numerous popular websites, has established a robust infrastructure for cryptocurrency payments through its acquisition of Bridge. The purchase empowers Stripe to swiftly deploy its own crypto wallet through Privy. Now, with the development of its network, Stripe plans to integrate all these services seamlessly. If the network is EVM-compatible, it could also process payments for ERC-20 tokens. As speculation grows around whether Twitter (now known as X) will accept crypto payments, we may soon see a landscape where 4.5 million websites are capable of accepting cryptocurrency payments. Developments in the crypto industry are indeed progressing at a rapid pace.
