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Two of Silicon Valley’s top tech firms are teaming up to change the payments landscape. On Thursday, the $91.5 billion fintech Stripe and the crypto venture firm Paradigm publicly announced their joint project Tempo, a so-called Layer-1 blockchain built around stablecoins, or cryptocurrencies typically pegged to the U.S. dollar.
Tempo will have the advantage of Stripe’s built-in customer base, with the startup serving as one of the world’s largest payment infrastructure companies and catering to clients who, for the most part, don’t operate in the crypto realm.
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