Crypto infrastructure company Commonware has successfully secured $25 million in funding, primarily led by Tempo, a blockchain platform focusing on payment solutions. This significant investment aims to enhance the development of blockchain payment systems in real-world applications.

The funding was first reported by Fortune and signifies Tempo’s importance in the industry, as it was launched by fintech leader Stripe alongside crypto investment firm Paradigm just last month. Other investors also participated in this funding round, though Commonware has not disclosed their identities.

Commonware specializes in open-source solutions that enable businesses to create and implement their own blockchains, fostering a burgeoning ecosystem for payment-focused Web3 infrastructure.

The CEO of Commonware emphasized that “usage and distribution is way more important than money as a startup,” indicating a strategic focus on partnerships with Tempo and Paradigm over traditional financial metrics at this stage.

Tempo stands out as a unique investor; it is currently valued at approximately $5 billion following a substantial $500 million funding round led by Thrive Capital and Greenoaks. This layer-1 blockchain is known for its emphasis on stablecoins and real-world payment solutions.

During this funding milestone, Patrick Collison, the CEO of Stripe, referred to Tempo as an “independent company, with Stripe and Paradigm as the first investors.”

Concurrently, the realm of crypto payments is experiencing renewed energy, especially with the growing acceptance of stablecoins. On Friday, seven crypto entities collectively launched the Blockchain Payments Consortium to establish standardized protocols for cross-chain stablecoin transactions.

To maximize blockchain payment efficiency, the consortium stated, “for blockchain payments to realize their full potential, we must address the inconsistent and fragmented experiences individuals and institutions face when transitioning between conventional payments and blockchain.”

In another significant move, the media and wallet platform Bitcoin.com joined forces with Concordium, a layer-1 blockchain, to integrate age verification into stablecoin transactions, a proactive measure addressing new safety regulations across various jurisdictions.

The stablecoin market has shown substantial growth over the past year, especially propelling forward with the recent endorsement of the US GENIUS Act—a key regulation for stablecoins—expected to further influence this growth trajectory. In light of these developments, Citigroup raised its market capitalization forecast for stablecoins to $4 trillion by 2030.