If there is one crypto sector that does not know the crisis, it is that of stablecoins. Current projects are multiplying around the world and are even becoming a political subject in the United States, South Korea and Europe. Today, it is the online payment giant Stripe that is launching its blockchain dedicated to these cryptos like no other.
Stripe and Paradigm unveil Tempo
Stripe is a well-known company, specialising in online payment solutions. Paradigm is an investment fund specializing in cryptocurrencies. Together, they have just announced the official launch of Tempo, a new blockchain that may well revolutionize the payments industry.
According to the announcement by Paradigm and taken up by the US press, Tempo will be a Layer 1 blockchain, that is, it operates autonomously and does not depend on another network to exist.
It was designed to be fast, secure, and scalable, three essential features for large-scale use. But what really distinguishes Tempo from other blockchains is its focus on stablecoins. As a reminder, stablecoins are cryptocurrencies whose value is indexed to a currency, such as the dollar or the euro.
They are usually used to facilitate online transactions, as they offer the stability of a traditional currency with the speed and security of a cryptocurrency.
Tempo: a blockchain dedicated to stablecoin payments
Tempo was specifically designed to optimise the use of stablecoins by allowing near-instant transactions with extremely low transaction fees. Moreover, it is compatible with the main stablecoins on the market, making it particularly attractive to traders and consumers.
Stripe and Paradigm see Tempo big, and they are even considering making it the reference platform for stable-neck payments, whether for online purchases or international money transfers. Finally, the blockchain is also open to developers, who will be able to create their own decentralized applications (dApps) on the platform.
The battle of the stablecoins is raging in international finance, and many actors want to be positioned as soon as possible. For example, we think of companies like Mastercard, Google or Metamask that don’t want to miss the mark and multiply the experiment.