Matt Huang, a co-founder and managing partner at Paradigm, a venture capital firm specializing in cryptocurrency investments, is now spearheading Stripe’s new blockchain initiative. Huang has served on Stripe’s board since 2021.
Paradigm, known for its focus on digital currency ventures, will see Huang continue in his leadership role there alongside his responsibilities at Stripe. This significant move signals Stripe’s deepened commitment to blockchain technology.
Fortune magazine initially broke the story, indicating Huang’s dual role. Stripe, when queried by SiliconRepublic.com, declined to officially comment on the appointment.
Earlier this week, Fortune also reported that Stripe is actively building “Tempo,” its own proprietary blockchain, with support from Paradigm. A now-removed job posting described Tempo as a “high-performance, payments-focused blockchain.”
The job description further revealed that Tempo is operating under wraps with a small dedicated team. According to Fortune’s sources, Tempo is designed as a Layer 1 blockchain, operating independently rather than on top of existing platforms like Ethereum, Bitcoin, or Solana.
Huang, a former partner at Sequoia Capital, co-founded Paradigm in 2018 with Fred Ehrsam, a co-founder of Coinbase. As of 2024, filings with the U.S. Securities and Exchange Commission indicate that Paradigm manages approximately $12.7 billion in assets.
Paradigm successfully raised $850 million last year, adding to the $2.5 billion fund it launched previously in 2021.
Stripe, a leading global financial technology company, achieved a valuation exceeding $90 billion this year. The company processed $1.4 trillion in total payment volume in 2024, reflecting a nearly 40% increase year-over-year.
With headquarters in both Ireland and the United States, Stripe has demonstrated a renewed interest in the cryptocurrency space, reintroducing crypto payments after a temporary pause in 2018. This past June, Stripe acquired Privy, a U.S.-based provider of crypto wallet infrastructure, for an undisclosed sum.
Furthermore, Stripe’s acquisition of stablecoin platform Bridge last year for $1.1 billion stands as the company’s largest acquisition to date.
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Updated: August 14, 2025, 9:44 AM: This article includes Stripe’s response when asked for comments on the story.