The post Stripe and Paradigm Announces New L1 Chain Focused on Stablecoins Dubbed Tempo appeared first on Coinpedia Fintech News
Paradigm has announced the launch of a new layer one (L1) blockchain dubbed Tempo. According to Matt Huang, Paradigm’s founder, Tempo is a payment-focused blockchain that was incubated by several investors led by Stripe and Paradigm, with its key features enabling the mainstream adoption of stablecoin payments.
The development of Tempo involved strategic investments from Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa. As a result, Tempo chain is well-positioned to grow exponentially in the near future.
What Sets Tempo Aside from Its Competitors?
The strategic launch of Tempo blockchain has coincided with the mainstream adoption of stablecoins fueled by clear regulations. Notably, more institutional investors have ventured into the stablecoin market since U.S. President Donald Trump signed into law the GENIUS Act earlier this year.
For instance, stablecoin issuers Tether and Circle have already announced the launch of their blockchain dubbed Plasma and Arc respectively. In order to set Tempo aside from its established competitors, the announcement noted that it will have predictable low fees, with the capability to scale more than 100 transactions per second.
The Tempo chain users will have the opt-in privacy feature and seamlessly connect with other EVM-compatible blockchains. Moreover, the Tempo chain aims to enable round-the-clock tokenization of real-world assets (RWA).
“We’re building Tempo with principles of decentralization and neutrality. That includes Stablecoin neutrality, anyone can issue a stablecoin, and any stablecoin can be used for payments/gas. Independent and diverse validator set, with a roadmap toward a permissionless model,” Huang noted.
Among other technical features, the Tempo chain will offer flexible fee payments through other regulated stablecoins. The Tempo chain will allow batch payments and include the freezing feature to meet the compliance requirements.