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

Tempo is a new layer-1 blockchain being developed by Stripe in collaboration with crypto venture firm Paradigm, designed specifically for payments and stablecoin use. With an expected transaction capacity exceeding 100,000 transactions per second (TPS), Tempo aims to provide a payments-first user experience and low transaction fees. In its development phase, Tempo collaborates with notable companies including OpenAI, Shopify, and Visa, primarily through a private testnet to explore real-world payment applications and stablecoin functionalities. Key features include automated market makers allowing users to pay transaction fees with stablecoins like USDC or USDT, and opt-in privacy settings to keep transaction data confidential while meeting compliance standards. The blockchain aspires to evolve into an open, permissionless network, allowing broader public participation in validation and infrastructure. Tempo has raised $500 million in funding, valuing the project at $5 billion, highlighting its potential within the expanding on-chain stablecoin market, which has reached a total market cap exceeding $300 billion.

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