Stripe appointed Matt Huang, co-founder and managing Crypto Venture Firm Paradigm, as its chief executive officer Upcoming blockchain tempo.
Huang, who is already sitting on Stripe’s board, will maintain his position in the paradigm. According to Fatecites resources familiar to the project.
The move is aligned with a growing flow of the formation of stablecoin -focused blockchains. It includes Plasmarecently attracted more than $ 373 million in an oversubscribe token sale, and tether dedicated to blockchain Stable.
The stablecoin sector, with a $ 270 billion market capitalizationis growing big and more driven by recently -only Trump Signing the Genius Act to the law. The law has established a regulation framework for the US sector
The tempo is described as a “high performance, focused on the payment” layer 1 that will run the code compatible with the Ethereum. It is unclear when the blockchain will be launched, or if it will have its own token.
Huang, a former partnership of Sequoia, helped the paradigm to manage $ 12.7 billion in property and back projects including the decentralized exchange of uniswap and crypto infrastructure provider.
Read more: Stripe Building Payment Blockchain ‘Tempo’ with Paradigm: Fortune
