Stripe and crypto investment firm Paradigm have unveiled a blockchain project for stablecoin payments.
Incubated by Stripe, the Tempo blockchain is an independent company working on a "payments-oriented L1, optimized for high-scale, real-world financial services applications," says Stripe CEO Patrick Collison on X.
First invetors Stripe and Paradigm have used their industry muscle to secure an impressive array of players as design partners, including Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa.
"We hope that Tempo makes it easier for things like payment acceptance, global payouts, remittances, microtransactions, tokenized deposits, agentic payments, and more, to move onchain," writes Collison.
Stripe board member and Paradigm co-founder Mall Huang is onboard to lead Tempo.
Says Huang: "As stablecoins go mainstream, there’s a need for optimized infrastructure. Tempo is purpose-built for stablecoins and real-world payments, born from Stripe’s experience in global payments and Paradigm’s expertise in crypto."
Huang is promising an ambitious path for Tempo, including predictably low fees; opt-in privacy; payments-first UX; scale; global payouts, payins and payroll; fast and cheap remittances; tokenised deposits; microtransactions; and agentic payments.