Tempo, a payments-focused blockchain developed by Stripe and Paradigm, launched its public testnet on December 9, 2025. The company recently raised $500 million in a Series A funding round, valuing it at $5 billion. Tempo aims to provide instant, low-cost transactions and a stablecoin-native experience, addressing challenges that general-purpose blockchains face in financial applications. Notable design partners for Tempo include Kalshi, Mastercard, and UBS. Tempo operates as an Ethereum-compatible Layer 1 blockchain, optimized for high-throughput payments. The company has already established connections with major firms such as OpenAI, Shopify, Visa, Anthropic, and Deutsche Bank. Recently, Klarna introduced KlarnaUSD, a USD-backed stablecoin that will operate on Tempo, with plans for its mainnet launch scheduled for 2026. Paradigm's co-founder highlighted Tempo's foundation in Stripe's global payments experience and Paradigm's crypto expertise.