Tempo, the blockchain project incubated by Stripe and Paradigm, has opened its public testnet, marking a significant step toward its goal of making digital payments faster, cheaper, and easier to settle on-chain. The network, valued at roughly $5 billion after a recent fundraising surge, is designed specifically for high-throughput payments and stablecoin activity.
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In announcing the launch, the team said Tempo aims to deliver instant, deterministic settlement, low and predictable fees, and a stablecoin-native environment — areas where many general-purpose blockchains still fall short for financial applications. The public testnet brings these core features together for the first time.
The move follows the rollout of a private testnet earlier this year. In October, Tempo reportedly raised $500 million in a Series A round led by Thrive Capital and Greenoaks, with participation from Sequoia Capital, Ribbit Capital, and SV Angel. While Stripe and Paradigm helped incubate the project, they did not join the round.
Built as an Ethereum-compatible Layer 1, Tempo is designed to support real-world payment flows at scale. The network is already collaborating with companies across technology and finance, including OpenAI, Shopify, Visa, Anthropic, and Deutsche Bank. Klarna also introduced KlarnaUSD — a USD-backed stablecoin issued on Tempo — in November, with plans for a mainnet debut in 2026.
Paradigm co-founder Matt Huang said last fall that Tempo brings together Stripe’s global payments expertise and Paradigm’s crypto experience to create a blockchain tailored for stablecoins and everyday financial activity.
