Two technology companies in Silicon Valley are cooperating to change the scene of payments. On Thursday, 91.5 billion dollars Findte tape Crypto Venture Paradigm has publicly announced their joint project, which is called Layer-1 blocks based on Stablecoins, or encoded currencies are usually linked to US dollars.
Layer-1 Blockchains like Bitcoin or ethereum It is more demanding to build and work than the “layer 2s”, which sits on top of Blockchains. TEMPO is among the new crops of layer 1 for Stablecoins, along with Arc’s Arc and Tether’s Plasma and stable.
the A long time ago Blockchain comes amid the encryption boom. The Trump administration embraces the sector and the conference corridor From a draft law focused on Stablecoin in July, he motivated many large companies that were suspicious of Blockchain technology, from banks to Large technology companiesTo start exploring space. But Stripe was a pioneer, especially in Silicon Valley, including the conduct of historical acquisitions of two people Stablecoin And encryption portfolio companies.
By helping to build Blockchain side by side Huang The project – Stripe will double the encryption bet as the future of global payments.
Blockchain explosion
Blockchains, or a distributive professor’s book that records transactions, has worked as a basis for encryption technology since Bitcoin’s introduction in 2008. The list of options available, from the basic Layer-1 offers like ETHEREUM and Solana to new generations based on the old head. Many received hundreds of millions of dollars in financing, but faded amid a lack of use.
While some like Ethereum focus on building decentralized financial applications, a new list of Blockchains has emerged that focuses on payment over the past year in conjunction with the rise of Stablecoins. This promise to process fast lightning transactions with minimal fees, which are often built around local symbols, such as Circle or the market rope, which are often circulated on ETHEREUM but were published on many other Blockchains as well.
STRIPE and Paradigm Blockchain will be launched amid this increasing competition. However, TEMPO will have the integrated Stripe base feature, as the start starting as one of the largest payment infrastructure companies in the world and meet the needs of customers who do not work mostly in the world of encryption. Stablecoin supporters have long promoted technology as faster and more efficient than old money transfer services such as fast and negative transfers, which can be slow and expensive. At the same time, the adoption of companies’ frequency slowed towards encryption and the uncertain organizational scene.
While other Blockchains usually acquire value through the original cryptocurrencies, Tempo will not be launched with its own code, according to a familiar source, it occurs provided that its identity is not disclosed to discuss private business information. Instead, it will accept different forms of stablecoins as “gas” drawings, which are small payments made on a network distributed from the entities that run Blockchain.
The source said that there is no timetable yet to launch Tempo, although the project has already has about 15 employees, including HUANG, who will continue to work as an administrative partner in Paradigm alongside Alana Palmedo.
In a blog publication accompanying the advertisement, Paradigm wrote that TEMPO will focus on global payments, transfers, fine transactions, agents, or payments made by artificial intelligence agents – an area where coding advocates argue that Blockchain technology will be necessary. The post adds that, even with the presence of a project embracing, the goal is that Tempo is to maintain “neutrality”, although it is unclear whether other payment factors will use Blockchain. Paradigm said that different partners will participate in developing rhythm, including Antarbur, Openai, German bankAnd Shopify.
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