Stripe and Paradigm's Tempo Payments Blockchain Opens Public Testnet with Mastercard and UBS
Tempo is a payments-focused blockchain developed by Stripe and Paradigm, now opening its public testnet for development.
Designed to be Ethereum Virtual Machine-compatible, Tempo was created with input from OpenAI, Shopify, and Visa, and counts Mastercard, UBS, and Klarna among its early partners.
The testnet offers several features tailored for payments, including dedicated blockspace, gas fees payable in stablecoins, microtransactions, global payments and remittances, tokenized deposits, and browser-based stablecoin creation.
Currently, Tempo operates with a rotating set of four validators, with plans to add independent validators and partner infrastructure before the mainnet launch, although no mainnet launch date has been determined.
In October, Tempo raised approximately $500 million at a $5 billion valuation to support development, and Dankrad Fiest from the Ethereum Foundation joined to assist in building the chain.
Tempo runs alongside Circle’s Arc, another separate stablecoin and payments-focused blockchain project whose testnet launched in October with participants such as Visa, BlackRock, and Goldman Sachs.
Matt Huang, Tempo's project lead, announced publicly that the testnet is open to any participants interested in development.
