Stripe and Paradigm open the Tempo blockchain to the public, adding Kalshi and UBS as partners

Stripe Inc. and the crypto venture firm Paradigm have launched a public test for their collaborative blockchain project Tempo, opening the network to all companies interested in building real-world stablecoin payment applications.

Tempo aims to enable platforms to easily accept stablecoin payments by providing a simplified plug-and-play experience. The network addresses the issue of rising transaction costs during congestion by setting up a payment-specific channel that is independent of other parts of the network. Tempo's fee structure is a fixed cost, with each payment transaction costing 0.1 cents. New partners for Tempo include financial firms UBS, Cross River Bank, and prediction market operator Kalshi Inc. Existing partners include Deutsche Bank, Nubank, AI startups OpenAI and Anthropic. Matt Huang, co-founder and managing partner of Paradigm and head of the Tempo project, stated that they hope to bridge the experiential gap for developers considering practical use cases for stablecoins.