Kraken Teams Up With Tempo to Build Global Payment Rails — Here's What They're Actually Trying to Do

WHY IT MATTERS

Imagine sending money to a family member in another country. Right now, that often means paying high fees and waiting several days for the transfer to go through. Stablecoins — which are digital currencies designed to hold a steady value, usually pegged to the US dollar — can make these transfers nearly instant and much cheaper. Think of them like digital dollars that can zip across the internet. Kraken, one of the largest crypto exchanges, is now partnering with a payments company called Tempo to build the behind-the-scenes technology (called 'infrastructure') that makes these fast, cheap transfers possible on a global scale. For everyday people, this could eventually mean easier, cheaper ways to send and receive money internationally — whether you think of yourself as a crypto user or not.