This development comes less than two months after Stripe revealed its plans for a blockchain optimized for stablecoins and real-world payments. Tempo aims to become a high-performance, payment-focused network designed for large-scale financial applications.

Fintech Giant Expands Web3 Ambitions

According to Fortune, the funding round also included participation from Sequoia Capital, Ribbit Capital, and SV Angel, while Stripe and Paradigm did not contribute additional capital in this round.

Stripe CEO Patrick Collison noted on X that existing blockchains are not fully optimized for large-scale financial transactions.

“We view Tempo as a Layer-1 blockchain designed for high-throughput, real-world financial applications,” Collison said.

Meanwhile, Paradigm’s Chief Technology Officer Georgios Konstantopoulos announced that the core engineering team behind the open-source Ithaca project will join Tempo to build and scale the blockchain’s payment infrastructure.

A Growing Battle in the Stablecoin Market

Although Stripe has not yet disclosed plans for a native Tempo token, the project’s focus on blockchain-based payments positions it as a direct competitor to Circle, the issuer of the USDC stablecoin—a digital asset pegged 1:1 to the U.S. dollar and supported by Mastercard and Visa integrations.
Launched in 2018, USDC currently holds a market capitalization of $75.6 billion, making it the second-largest stablecoin after Tether’s USDT.

Circle also announced plans to launch its own Layer-1 blockchain later this year to support enterprise-grade stablecoin payments, capital markets, and foreign exchange operations. Much of this momentum stems from the GENIUS Act, passed in the U.S. in July, establishing federal rules for stablecoin issuers.
Meanwhile, the European Union is working on euro-pegged stablecoins, aiming to strengthen its position against dollar-dominated tokens.

Key Highlights of Stripe Tempo

• Layer-1 blockchain built for payments

• Scalable infrastructure for real-world financial use

• Backed by Thrive Capital and Greenoaks

• Supported by Paradigm’s engineering expertise

• Targets the Web3 and fintech payment ecosystem

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The post Stripe Quiet Revolution: A New Era Begins with Tempo appeared first on Coin Engineer.

JPMorgan Deploys JPMD on Base Network

In a strategic development, JPMorgan has launched a pilot for its new deposit token, JPMD, on Coinbase’s Layer 2 blockchain, Base. The token represents U.S. dollar deposits held in bank accounts, making it a digital representation of real-world funds within the traditional banking infrastructure.

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According to Naveen Mallela from JPMorgan’s blockchain division, a fixed amount of JPMD will be transferred to Coinbase in the coming days, with the transaction settled in USD. After regulatory clearance, other fiat currencies may be supported. Once the pilot concludes, Coinbase’s institutional clients will be able to use JPMD for transactions.

Why Deposit Tokens Could Outshine Stablecoins

Unlike stablecoins, which are backed by reserves but operate outside the banking system, deposit tokens are fully integrated with traditional finance. Mallela argues that deposit tokens like JPMD are more scalable and may even offer interest payments in the future—something most stablecoins lack.

This positions JPMD as a potentially superior instrument for institutional investors. Meanwhile, industry experts warn that the rise of yield-generating stablecoins could disrupt traditional banks—a trend that’s already making major financial players uneasy.

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Jeremy Allaire: “We’re Not There Yet, But Very Close”

Circle CEO Jeremy Allaire, following his company’s recent debut on the New York Stock Exchange, believes the era of explosive growth for stablecoins is right around the corner. “We’re not quite at the iPhone moment — when developers everywhere see the true power of programmable digital dollars — but we’re very close,” he said.

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Allaire described stablecoins as “the highest utility form of money ever created,” suggesting a broader technological and economic shift is underway.

Retail Giants Enter the Stablecoin Arena

While developer interest rises, major retailers are joining the game. Reports say Amazon and Walmart are exploring their own USD-backed stablecoins for customers. Meanwhile, Shopify plans to integrate Circle’s USDC by the end of 2025.

a16z Crypto’s Sam Broner added that stablecoins enable more competition in fintech by reducing costs and barriers. “Now anyone can program money,” he wrote.

Transaction Volumes Surpass Legacy Systems

Over the past year, stablecoins facilitated $33 trillion in transactions — nearly 20 times the volume of PayPal and nearly three times that of Visa, according to a16z data scientist Daren Matsuoka.

Matsuoka argues this could be the first real path to bring one billion people into crypto. Meanwhile, Circle’s public debut was a major success, with shares jumping 167% on their first day. Rival Tether, however, has no plans to go public, according to its CEO Paolo Ardoino.

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The post Stablecoins May Be Nearing Their ‘iPhone Moment’, Says Circle CEO appeared first on Coin Engineer.