Stripe and Paradigm Reveal Tempo Blockchain, Constructed With Assist From OpenAI and Visa – Decrypt

Tempo, a layer-1 blockchain constructed particularly for stablecoins and funds, was introduced on Thursday by a pair of distinguished companions—fintech big Stripe and crypto enterprise capital agency Paradigm.

The Ethereum Digital Machine-compatible blockchain is receiving early design enter from main international companies like OpenAI, Visa, and Shopify, because it builds its community with “high-throughput, low-cost international transactions for any enterprise use case.”

Plans for the community had been first reported by Fortune in August, following a point out of the chain in a job itemizing.

“As stablecoins go mainstream, there’s a rising want for optimized infrastructure. A lot of in the present day’s crypto stack both explicitly or implicitly caters to buying and selling (a extremely worthwhile use case in its personal proper) however is relatively underoptimized for funds,” wrote Matt Huang, Paradigm’s founder and the lead at Tempo. 

Along with low charges and its payments-centric expertise, the community expects to allow greater than 100,000 transactions per second (TPS) with privateness options that may permit customers to maintain some transaction particulars hidden. It would additionally make use of an automatic market maker (AMM) that permits transaction charges to be paid by way of any stablecoin.

“Tempo eases the trail to bringing real-world flows on-chain,” Huang posted on X, highlighting Tempo’s potential for onboarding international payrolls, remittances, microtransactions, and agentic funds to blockchain. 

The community is presently in non-public testnet, because the group experiments with use circumstances like e-commerce and cross-boarder funds with its international companions, in keeping with its web site. 

A few of its design companions are additionally appearing as validators for the community, however Tempo will finally transition to an open, permissionless community. In different phrases, anybody will be capable of take part in community validation sooner or later. 

“At Stripe, we care about high-throughput, low-latency funds use circumstances,” wrote Stripe CEO Patrick Collison. “As using stablecoins (and crypto extra broadly) grows throughout Stripe, Bridge, and Privy, we discovered that present blockchains are usually not optimized for them.” 

Stripe’s incubation of Tempo will rival layer-1 community plans from Google and Circle, as crypto turns into more and more intertwined with conventional finance. 

The funds big acquired crypto pockets infrastructure agency Privy in June, lower than one yr after spending $1.1 billion to grab up stablecoin cost platform, Bridge.

Tempo wasn’t the one stablecoin community announcement on Thursday, both. Crypto infrastructure agency Fireblocks additionally launched its Fireblocks Community, which is supported by USDC issuer Circle and greater than 40 different suppliers.