Stripe and Paradigm Launch Tempo for High-Speed Stablecoin Payments
Stripe and Paradigm have launched Tempo, a blockchain project focused on stablecoin payments. Key details include:
- Designed to process tens of thousands of transactions per second with sub-second finality.
- Partners include Anthropic, Deutsche Bank, DoorDash, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa.
- Aims to facilitate payment acceptance, global payouts, remittances, microtransactions, and tokenized deposits.
- Targets 100,000 transactions per second and allows fees in stablecoins.
- Built on Reth, an Ethereum execution client, and is EVM-compatible.
- Tempo is independent, with Stripe and Paradigm as early investors.
- Plans for a diverse set of validators and a future transition to a permissionless model.
The stablecoin market, currently valued at $270 billion, is projected to reach $1 trillion.