#What is Commonware's recent funding achievement?
Commonware, a startup specializing in crypto infrastructure, has successfully raised $25 million in a funding round aimed at enhancing its tools for decentralized finance applications. The investment round was spearheaded by Tempo, a blockchain firm that is increasingly focused on stablecoin settlement systems.
The significance of this funding reflects a notable trend: growing investor interest in specialized blockchain infrastructure as established financial technology companies start venturing into cryptocurrency. As part of this landscape, Stripe, well-known in the payment sector, is backing Tempo to develop a solid infrastructure for stablecoin payments. This support signifies Stripe’s commitment to exploring blockchain technologies.
Tempo has recently transitioned from being incubated by Stripe and a crypto venture firm, marking its growth in supporting related infrastructure projects aimed at improving stablecoin settlement capabilities. This funding aligns perfectly with Tempo's overarching strategy to integrate with other firms in the crypto space.
Commonware's funding is a crucial step in Stripe's ongoing strategy to strengthen its on-chain payment services. This initiative follows recent acquisitions of stablecoin and wallet service providers, like Bridge and Privy. These acquisitions are geared towards bolstering Stripe's capabilities in the blockchain payment sector, ensuring they remain competitive in a rapidly evolving market.