PANews reported on August 13th that payments giant Stripe will appoint Matt Huang, co-founder and managing partner of Paradigm, as the first CEO of its new blockchain project, Tempo. Huang will also retain his position at Paradigm. Tempo is positioned as a high-performance Layer-1 blockchain focused on payments and compatible with Ethereum code. Stripe recently acquired stablecoin company Bridge and wallet service provider Privy to strengthen its stablecoin technology stack. It remains unclear whether Tempo will issue its own token, and the project's launch date has not been disclosed.

As reported yesterday, Stripe is partnering with Paradigm to develop the Tempo blockchain .