Stripe and Paradigm Launch Payments-Focused Blockchain, tempo

Financial infrastructure provider Stripe and crypto investment firm Paradigm have announced a “payments-first blockchain” called Tempo that is optimized for stablecoins and real-world payments.

Incubated by the two companies, Tempo is a new company with its own full-time team and is led by Paradigm Co-Founder and Managing Partner Matt Huang, who will also continue in his role at Paradigm, Huang wrote in a Thursday (Sept. 4) blog post.

Huang wrote that much of the existing crypto infrastructure focuses on trading, and Tempo will instead optimize for payments. He added that the company aims too provide a way for large enterprises to go on-chain.

“We are excited to further crypto’s ability to tackle real-world use cases including global payments and payroll, remittances, tokenized deposits for 24/7 settlement, embedded finance, and more,” Huang stated.