Stripe has appointed Matt Huang, co-founder and managing partner of the venture capital company Paradigm, as managing director of his next blockchain tempo.
Huang, who already sits on Stripe’s table, will retain his position in the paradigm. It is according to Fortune, citing sources familiar with the project.
The movement aligns with an increasing trend in developing blockchains focused on stables. These include plasma, which recently attracted more than $ 373 million to a sale of suspected tokens and a blockchain stable focused on ties.
The Stablescoin sector, with a market capitalization of $ 270 billion, increased exponentially and was still propelled by the recent signature by Trump of the Act on Engineering. The law has established a regulatory framework for the sector in the United States
The tempo is described as a layer 1 “high performance and focused on payments” which will perform code compatible with Ethereum. We do not know when the blockchain will be launched, or if he will have his own token.
Huang, a former partner of Sequoia, helped the paradigm to manage $ 12.7 billion in assets and back projects, including Fireblocks Fire-Blocks of the exchange of exchange and cryptographic infrastructure.
Read more: Blockchain stripe construction “tempo” striking with paradigm: fortune
