Tempo leads an investment round in startup Commonware to advance blockchain infrastructure for real-world payments.
Crypto infrastructure startup Commonware has raised $25 million in a funding round led by Tempo, a payments-focused blockchain network, underscoring a renewed effort to scale blockchain-based payment systems.
The deal, first reported by Fortune on Friday, is notable because Tempo was launched in September by fintech giant Stripe and crypto venture firm Paradigm. Commonware said other investors participated in the round but declined to name them.
Commonware develops open-source software that allows other companies to build and deploy their own blockchains, supporting the growing ecosystem of payment-oriented Web3 infrastructure.
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