Key Takeaways
- Stripe is reportedly developing a layer-1 blockchain called Tempo, built in partnership with Paradigm.
- The potential new blockchain, if integrated with MetaMask’s rumored mmUSD stablecoin, could serve as the underlying infrastructure for transaction processing.
- It comes as traditional institutions continue to explore stablecoins in a post-GENIUS Act boom.
Stripe is developing a new blockchain called Tempo that could potentially play a key role in powering MetaMask’s rumored stablecoin, according to leaked materials and multiple sources.
A now-deleted job posting described Tempo as a high-performance, payments-focused layer-1 blockchain built in partnership with crypto venture firm Paradigm.
Separately, a deleted proposal indicated MetaMask is working on a USD-pegged stablecoin, mmUSD, with Stripe potentially handling off-chain issuance and settlement.
If confirmed, the collaboration would mark a major push by Stripe into stablecoin infrastructure and could give MetaMask’s stablecoin launch regulatory credibility from day one.
Stripe’s New Blockchain
In a job posting on the Blockchain Association website, Stripe said Tempo is currently in stealth with a team of five.
The advertisement said it was looking for potential employees with “experience marketing to a Fortune 500 audience.”
The blockchain is a layer 1 and will be compatible with the coding language used in Ethereum, Fortune reported, citing people familiar with the matter.
After Fortune reached out to Stripe and Paradigm for comment, the job posting was reportedly taken down.
Stripe’s potential upcoming blockchain comes as the firm continues to bet big on the crypto industry.
In October 2024, the fintech firm announced it was acquiring stablecoin infrastructure firm Bridge for $1.1 billion, marking its biggest acquisition to date.
MetaMask’s Rumored Stablecoin
A leaked governance proposal, now deleted, revealed that MetaMask may be preparing to launch its own USD-pegged stablecoin, dubbed MetaMask USD (mmUSD).
The proposal indicated the stablecoin would be built on the M^0 protocol, with Stripe handling off-chain issuance and settlement.
The token is envisioned as a “cornerstone asset” within the MetaMask ecosystem, natively integrated across wallet, swap, buy/sell, and yield-earning interfaces.
Although the proposal has since been removed, it offered the clearest view yet of MetaMask’s intentions and conveniently aligns with Stripe’s rumored new blockchain.
Stablecoin Growth
The passing of the U.S. GENIUS Act has led to a range of institutions rushing to participate in the U.S. stablecoin market.
Leading traditional financial institutions like JPMorgan and Citigroup have moved quickly, applying for licenses and rolling out their own products.
A new stablecoin from MetaMask would signal a strategic leap into an increasingly competitive space.
With Stripe’s reach and regulatory backing, the collaboration could be a significant step forward for the intersection of Web3 and traditional finance.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
