Stripe and Paradigm launch Tempo, a joint blockchain project designed for stablecoin payments

PANews reported on September 5th, according to CoinDesk, that payments giant Stripe and crypto investment firm Paradigm officially launched Tempo, a joint blockchain project designed specifically for stablecoin payments, on Thursday. Stripe CEO Patrick Collison stated on the X platform that the project, incubated internally within Stripe, aims to meet the large-scale demands of real-world financial applications, processing tens of thousands of transactions per second with sub-second confirmations. Tempo aims to process 100,000 transactions per second, support stablecoins for transaction fees, and employ a built-in automated market maker to ensure issuer neutrality. The chain is compatible with the Ethereum Virtual Machine and built on Reth. Tempo is an independent entity, with Paradigm and Stripe as early investors. Paradigm CEO Matt Huang leads a 15-person team. He stated that Tempo is being built on the principles of decentralization and neutrality, launching with multiple validating nodes and transitioning to a permissionless model in the future.