Key Takeaways
- Stripe and Paradigm have launched Tempo, a layer 1 blockchain constructed for stablecoin funds and real-world transactions.
- Tempo targets use circumstances corresponding to international funds, payroll, remittances, tokenized deposits, and embedded monetary accounts.
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Stripe and Paradigm introduced right this moment the launch of Tempo, a blockchain platform designed to optimize stablecoin transactions and real-world funds, confirming earlier reporting that the 2 corporations have been quietly constructing a layer 1 resolution.
The undertaking, presently operating on a personal testnet, goals to handle the rising demand for specialised stablecoin infrastructure, mentioned Matt Huang, co-founder and Managing Accomplice at Paradigm.
“As stablecoins go mainstream, there’s a rising want for optimized infrastructure. A lot of right this moment’s crypto stack both explicitly or implicitly caters to buying and selling however is relatively underoptimized for funds,” Huang said.
The community’s payment-first design options low charges, stablecoin fuel funds by way of an enshrined AMM, a devoted funds lane with opt-in privateness, and efficiency concentrating on over 100,000 transactions per second with sub-second settlement.
Constructed on Reth and absolutely EVM-compatible, Tempo goals to mix blockchain effectivity with user-friendly monetary companies.
The undertaking obtained enter from a powerful group of early design companions from top-tier firms throughout AI, e-commerce, and monetary companies, together with Anthropic, OpenAI, Deutsche Financial institution, Visa, Shopify, and Customary Chartered, amongst others.
Tempo will deal with a number of key use circumstances, together with international funds and payroll, remittances, tokenized deposits for twenty-four/7 settlement, embedded monetary accounts, microtransactions, and agentic funds.
The brand new platform will function independently with its personal full-time staff whereas sustaining connections to each founding organizations. Huang, who will proceed his current function main Paradigm alongside Alana, will head Tempo.
“We consider Tempo will complement current crypto infrastructure and be a conduit for a lot of giant enterprises to come back onchain, growing adoption of crypto instruments and infrastructure,” Huang mentioned.
Stripe will not be the one firm excited by making a blockchain targeted on stablecoins. Circle, following its blockbuster IPO, revealed Arc, a layer 1 community for stablecoin finance. The corporate goals for a debut this fall.
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