New collaborative venture, Tempo, unveiled by Stripe and Paradigm, designed specifically for facilitating transactions using stablecoins
New Blockchain Platform Tempo Launches for Enhanced Crypto Trading Infrastructure
A new blockchain platform, Tempo, has been launched with the aim of addressing gaps in trading-oriented crypto infrastructure. The independent company, led by Matt Huang, a co-founder of Paradigm, is set to complement existing crypto infrastructure and provide a pathway for more enterprises to adopt on-chain financial services.
Tempo targets stablecoin transactions and real-world financial use cases, making it an attractive solution for businesses seeking to leverage the benefits of blockchain technology. The network will begin with an independent and diverse validator set, with plans to transition to permissionless validation. This design ensures a fair and secure ecosystem for all participants.
Stripe and Paradigm, the first investors in Tempo, have drawn on their respective expertise in payments and crypto engineering to create this innovative platform. Stripe will continue to work with multiple blockchains, further reinforcing its commitment to the crypto space.
The network will have a built-in Automated Market Maker (AMM) to remain neutral across different stablecoins. This feature aims to close the performance gap, handling peak volumes of more than 10,000 transactions compared to Bitcoin (5 transactions per second), Ethereum (20 transactions per second), and newer chains (up to 1,000 transactions per second).
Initial design partners for Tempo include Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa. These partnerships underscore the industry-wide recognition of Tempo's potential to revolutionise the crypto trading landscape.
Usage of stablecoins and crypto is reportedly rising across Stripe's services including Stripe, Bridge, and Privy. Tempo is expected to support payment acceptance, global payouts, microtransactions, tokenized deposits, embedded financial accounts, and agentic payments, making it a versatile tool for businesses.
Design motivations for Tempo include fees denominated in fiat units and support for batch transfers. More information about Tempo can be found by contacting [email protected]. The image featured in this article was edited by the website's team, based on an image by Irina Beloglazova via Freepik.
While the founders of the company Tempo are not explicitly named in the provided search results, it is known that the company is behind the launch of a new blockchain platform for payroll, remittances, and daily payments. As the crypto and blockchain landscape continues to evolve, Tempo is poised to play a significant role in shaping its future.
