‍Stripe and Paradigm Launch Tempo Blockchain for Stablecoins Payments giant Stripe and crypto venture firm Paradigm have partnered to launch the Tempo blockchain, a new layer-1 network designed specifically for stablecoin and payment applications. The initiative aims to enhance real-world transactions using digital currencies. Tempo, valued at approximately $5 billion following a $500 million Series A funding round, has garnered input from major companies like OpenAI, Shopify, and Visa. The network boasts a projected performance of around 100,000 transactions per second (TPS) and features such as batch transfers and memo fields. A key innovation is an integrated automated market maker (AMM) that allows gas fees to be paid in any stablecoin, simplifying user experience. Tempo also includes an opt-in privacy feature. The network is currently in a private testnet phase, with plans to transition to an open and permissionless system.

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Stripe Backs Tempo Blockchain: A New Era for Stablecoin Payments

The payments landscape is on the cusp of a significant transformation with the emergence of the Tempo blockchain, a new layer-1 network specificall...