Compilation: Felix, PANews

As early as the beginning of August, a job posting revealed that Stripe was collaborating with cryptocurrency venture capital firm Paradigm to build a new blockchain called Tempo, but the official announcement remained under wraps until now.

Payment giant Stripe and cryptocurrency investment firm Paradigm jointly announced on September 4 that they will launch Tempo, a blockchain designed specifically for stablecoin payments. Earlier that same day, cryptocurrency company Fireblocks also announced the launch of a stablecoin payment network.

Designed for Stablecoins, Processing Over 100,000 Transactions Per Second

Official information from Tempo indicates that it is built on Reth and is an EVM-compatible L1 blockchain specifically designed for payments. Stripe plans to incubate Tempo internally, aiming to process over 100,000 transactions per second and achieve sub-second finality for real-time payments globally.

Unlike general-purpose blockchains, Tempo's goal is not to replace other general-purpose blockchains but to integrate more design solutions that meet the needs of high-traffic payment use cases, including predictable low fees in dedicated payment functions, stablecoin neutrality, built-in stablecoin exchanges, high throughput, low latency, privacy transactions, and compliance linkage.

Pay Transaction Fees with Any Stablecoin, Supports Blacklist/Whitelist

Tempo claims that its blockchain has high performance and scalability, which will change the way funds flow. Technical features include:

• Fee Flexibility: Pay transaction fees using any stablecoin.
• Dedicated Payment Channels: Transfer reliably at low cost in isolated block space from other activities.
• Stablecoin Interoperability: Natively exchange stablecoins at low fees (including custom-issued stablecoins).
• Batch Transfers: Use native account abstraction features to send multiple transactions on-chain at once.
• Blacklist/Whitelist: Meet compliance standards by setting user-level transaction permissions.
• Note Field: Accelerate reconciliation with off-chain transactions by adding context information that complies with ISO 20022 standards.

Meanwhile, in terms of application scenarios, Tempo claims to be suitable for any payment use case:

• Remittances: Instant, secure, cross-border remittances at a cost that is only a fraction of traditional payment methods.
• Global Payments: Pay anyone, anywhere, in any currency without bank delays or fees.
• Embedded Finance: Integrate compliant, programmable payment functions directly into products, supporting any stablecoin.
• Microtransactions: Support fractional payments for digital goods and on-demand services.
• Agency Commerce: Provide agents with low-cost, instant payments, enabling them to execute transactions independently.
• Tokenized Deposits: Move customer funds on-chain for instant settlement and efficient interbank transfers.

Operates as an Independent Entity, Likely Not Launching a Token

Stripe CEO Patrick Collison stated on the X platform that Tempo will operate as an independent entity, with a team currently consisting of 15 members led by Paradigm CEO Matt Huang. Stripe and Paradigm are the initial investors, with partners including Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa.

Notably, regarding questions about token issuance, an anonymous source indicated that Tempo will not launch its own token.

Currently, Tempo has not announced an official launch date and is testing cross-border payments, B2B payments, and remittances in a private test network with selected partners.

Tempo is Stripe's latest move into the cryptocurrency space, following the company's $1.1 billion acquisition of stablecoin infrastructure company Bridge last October. Stripe also partnered with Coinbase in June 2024 to integrate Coinbase's Base Layer 2 network into its cryptocurrency payment products. In June of this year, the company acquired cryptocurrency wallet company Privy.

Related: Circle and Stripe Enter the Public Chain Arena, Full-Scale Battle for Stablecoin Public Chains

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