Stripe and Paradigm Launch Public Test of Tempo Blockchain for Stablecoin Payments
Tempo’s public testnet allows real-world stablecoin payment trials, with Klarna, Mastercard, and UBS joining major industry partners to advance low-cost, instant settlement solutions.
Stripe and crypto investment firm Paradigm have launched the public testnet for Tempo, a blockchain aimed at enabling low-cost, instant stablecoin payments. New institutional partners include Klarna, Mastercard, UBS, and Kalshi, joining earlier collaborators such as Deutsche Bank, Visa, Shopify, OpenAI, and Nubank. Tempo supports fees of around $0.001 per transaction, payable in USD-denominated stablecoins, and is designed to handle high-volume transactions with instant finality. The network seeks to address blockchain payment issues like congestion and volatile fees, positioning itself within a $300 billion stablecoin market expected to play a growing role in cross-border, B2B, P2P, and card payments.
- Stablecoin: A cryptocurrency designed to maintain a stable value, often pegged to a fiat currency like the U.S. dollar.
- Blockchain network: A decentralized digital system that records transactions across multiple computers in a secure and immutable way.