Stripe and Paradigm have announced the incubation of Tempo, a new permissionless, payments-focused Layer-1 blockchain. The project aims to streamline the use of stablecoins for real-world financial transactions. This marks Stripe's most direct entry into blockchain infrastructure, extending its global payments network to on-chain settlement.

Tempo is launching in a private testnet with an impressive list of design partners, including Visa, Deutsche Bank, OpenAI, Shopify, and Revolut. This collaboration with established financial and technology leaders signals a significant move to bridge the gap between traditional finance and the burgeoning digital asset space.

In tandem with this announcement, Crossmint, a bank-grade, all-in-one platform for embedded wallets, onramps, and checkout, has revealed its partnership with Tempo. As the infrastructure provider, Crossmint will support developers building on the new blockchain, further smoothing the path for the creation of new payment solutions. The involvement of these major players indicates a strategic push to accelerate the adoption of stablecoins in both B2B and consumer-facing applications, potentially setting a new standard for the future of digital payments.