The Protocol: Stripe's Tempo Testnet Goes Live

Source: CryptoNewsNet Original Title: The Protocol: Stripe’s Tempo Testnet Goes Live Original Link:

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STRIPE’S TEMPO TESTNET GOES LIVE: Tempo, a payments-focused blockchain backed by Stripe and crypto investment firm Paradigm, launched its public testnet, a key step in its effort in making stablecoin payments for mainstream use. Tempo also unveiled a roster of additions to the network’s partner group, including buy-now-pay-later firm Klarna, predictions market Kalshi, payments giant Mastercard and Swiss global bank UBS. They join a group of earlier design partners such as Deutsche Bank, Visa, Shopify, OpenAI and Nubank.

Initially introduced in September, Tempo is designed to handle high-volume financial transactions with low fees, instant finality and native support for stablecoins. Now the testnet is live, developers and corporate partners can begin experimenting with real-world payments onchain. The move fits into the latest trend of building blockchains for stablecoin payments as adoption of digital dollars soars globally.

Currently a $300 billion asset class, stablecoins are projected to become an integral part of cross-border payment rails with business-to-business (B2B), peer-to-peer (P2P) and card payments driving growth, according to recent reports. Tempo aims to solve common pain points in blockchain-based finance like network congestion and volatile transaction fees. The network charges around one-tenth of a cent per transaction, payable in U.S. dollar-denominated stablecoins and eliminating the need for a volatile gas token.

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