Stellar Lumens is famous for launching many of its projects on community. It is said to have been planning for a new launch lately. It introducing a new project known as Tempo.
Tempo is well known as a leading international money payment firm. In partnering with the crypto exchange, it intends to develop the largest payment platform of any permitted digital currency exchange in the world. It made the announcement on July 12. It also made a statement on its Twitter page too.
Compete with Ripple
Stellar Lumens runs its own coin XLM to support its system, which is an open source decentralized protocol. The partnership is expected to directly compete with Ripple, which is popular for its payment platform used for cross-border payments.
Tempo stated via Twitter that it aims at being a crypto exchange that will enable an easy process from the crypto to fiat exchange. It also stated that it intends to develop a large payment platform. To achieve this, Tempo will make use of Stellar Decentralized Exchange (DEX). The use of DEX will also enable it to realize the needed cash flows.
Since the DEX is based on the Stellar platform, it will enable development of mobile wallets, smart gadgets as well as banking tools that will have various uses. It will enable Tempo’s trading processes on the online systems.
Payments to almost 100 countries
In addition to enabling crypto to fiat exchange, Tempo is also providing a debit card. It will help its users buy goods and services through the use of digital currency. Users will be able to send crypto payments in almost 100 countries worldwide. This is possible through Tempo’s blockchain payment system which is operated either online or offline.
Even though Bitcoin ATMs are convenient they are also expensive to use, thus, not everyone is fond of them. Tempo promises to cater for those who would wish to avoid using the ATMs by allowing users to utilize its portable apps.
By using the Stellar platform, Tempo benefits from using a blockchain platform that enables peer-to-peer transactions. It also uses Lightyear.io, which enables users to integrate software.