Tempo, the blockchain network backed by payments giant Stripe, has officially launched its Testnet phase. The company also announced the addition of major new partners to its alliance, including derivatives platform Calaxy, Mastercard, and Swiss bank UBS, bolstering its efforts to build a global financial infrastructure.
Tempo, the blockchain network designed for global payments and financially backed by payments giant Stripe, has entered a critical phase with the launch of its Testnet. This step aims to test the network's scalability, performance, and security before transitioning to the Mainnet. Tempo was founded to address cross-border challenges in international financial transactions, such as high costs and slow speeds, using distributed ledger technology.
In a parallel development reflecting growing confidence in its model, Tempo announced three new strategic partners joining its network. It is now joined by Calaxy, an event-linked derivatives trading platform, Mastercard, a global payments leader, and the major global Swiss bank UBS. This alliance aims to explore practical use cases for blockchain in areas like cross-border financial settlements, institutional payments, and digital assets, creating a bridge between traditional finance and technological innovation.
The launch of the Testnet and the expansion of the alliance represent a significant practical step toward realizing Tempo's vision of creating an open and efficient financial infrastructure. As developers and institutional partners begin testing the network, valuable feedback is expected to be gathered to refine the technology. This project combines the established financial expertise of the new partners with the technological vision of Stripe and Tempo, laying a strong foundation for accelerating the widespread adoption of blockchain technology in the mainstream financial sector.
Source: CoinDesk | Exclusive coverage from AI Tools Oasis
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