Kraken became the first centralized exchange in the United States to integrate native support for Tempo, a Layer 1 blockchain designed specifically for stablecoin payments.
Starting now, exchange users can make USDT0 and USDC.e deposits and withdrawals through the Tempo network, accessing settlement in approximately 0.5 seconds and network fees in dollar-denominated stablecoins, with no need to use a separate gas token.
Tempo was incubated by Paradigm and Stripe with the participation of fintechs, banks and commerce platforms, and is oriented toward use cases such as cross-border payments, payroll, embedded finance and institutional money movements. The protocol offers dedicated payment lanes that guarantee low fees even during periods of high activity, in addition to settlement without chain reorganizations.
The integration will allow fintechs, neobanks, payment companies and stablecoin issuers operating on Tempo to access Kraken’s full stack. The exchange clarified that trading operations through its app and the Instant Buy feature will be available once market liquidity conditions allow it. It also indicated that geographic restrictions may apply depending on the user’s jurisdiction.
Source:Â https://blog.kraken.com/product/new-features/usdt0-and-usdce-now-available-on-tempo
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