What Is Tempo? The Payments and Stablecoin Blockchain Built by Stripe

Tempo is a new layer-1 blockchain created by Stripe and the crypto venture firm Paradigm, specifically designed for payments and stablecoins. Currently in private testnet, Tempo aims to provide a smooth user experience with low fees and high transaction speeds of around 100,000 transactions per second. It incorporates design input from major firms including OpenAI, Shopify, and Visa, focusing on real-world payment applications such as cross-border payments and remittances. Unique features include automated market maker capabilities for gas fees and opt-in privacy measures to enhance user confidentiality while complying with financial regulations. Tempo is expected to evolve into a permissionless network in the future, allowing broader participation from individuals in its validation process. Recent fundraising efforts have valued Tempo at approximately $5 billion, indicating strong institutional interest and support for the blockchain's ongoing development.

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