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

Stripe is collaborating with Paradigm to develop Tempo, a layer-1 blockchain tailored for payments and stablecoins, currently in private testnet. This network is engineered for high transaction speeds and low fees, promising around 100,000 transactions per second (TPS). Early design partners, including notable companies like OpenAI and Shopify, are contributing insights to enhance usability for real-world payments, including cross-border transactions and remittances. Tempo incorporates unique features like batch transfers and payments with various stablecoins for transaction fees. The blockchain also supports an opt-in privacy mechanism to safeguard transaction data while complying with financial standards. After an October fundraising round valuing Tempo at $5 billion, the project aims to transition to an open, permissionless network, enabling widespread user interaction and validation in the future.

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