Cryptocurrency infrastructure company Commonware completes $25 million financing, led by Tempo

According to Fortune, payment-focused blockchain project Tempo, supported by fintech giant Stripe and crypto venture firm Paradigm, announced it will lead a $25 million financing round for crypto infrastructure company Commonware.

As part of the collaboration, Tempo will work with Commonware to develop faster methods for processing blockchain payments. Commonware founder Patrick O'Grady declined to disclose other investors but stated that the company's valuation has seen "significant growth" after this round of financing compared to the seed round valuation of $63 million.