Quick take:
- Some of the companies involved in the designing and development stage of the blockchain include Anthropic, Deutsche Bank, DoorDash, Lead Bank, Mercury, OpenAI, Revolut, Shopify, Standard Chartered, and Visa.
- Others that joined since the announcement in September include Brex, Coastal, Cross River, Deel, Faire, Figure, Gusto, Kalshi, Klarna, Mastercard, Payoneer, Persona, Ramp, and UBS.
- Tempo offers a dedicated payment lane, guaranteeing blockspace for payments at the protocol level.
Tempo, a stablecoin-native blockchain launched by the Web3 venture firm Paradigm and digital payments company, Stripe, has announced the launch of its public testnet.
Announced first in September, the payments-first blockchain is now a functioning network being tested by many of the world’s leading companies. During the development stage, Tempo partnered with the likes of Anthropic, Deutsche Bank, DoorDash, Lead Bank, Mercury, OpenAI, Revolut, Shopify, Standard Chartered, and Visa.
Since its announcement in September, the payments-first blockchain has also teamed up with Brex, Coastal, Cross River, Deel, Faire, Figure, Gusto, Kalshi, Klarna, Mastercard, Payoneer, Persona, Ramp, and UBS as design partners.
Tempo’s layer-1 blockchain provides a dedicated layer for payments, guaranteeing blockspace at the protocol level.
“Payments have guaranteed blockspace reserved at the protocol level. They don’t compete with other traffic like NFT mints, liquidations, or high-frequency contract calls. Fees stay low and stable even when other network activity spikes, with a target of one-tenth of a cent per payment transaction. For payment processors, that means no “downtime” from congestion, and predictable economics for high-volume flows,” the company wrote in a blog post on Tuesday.
Transaction fees can be paid using USD-pegged stablecoins, regardless of the type of asset being transferred, thus removing the need to hold a balance of new cryptoassets.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
