DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash is teaming up with a group of financial technology companies to integrate stablecoins into their payment systems using Tempo, a blockchain platform developed by Stripe and Paradigm, marking a significant step towards the adoption of blockchain-based financial infrastructure. Tempo, a payments-focused blockchain, has announced that companies such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ are now using or preparing to use stablecoin-based payment rails. DoorDash, which operates in over 40 countries and generated nearly $75 billion in sales for local merchants last year, is working with Tempo to launch stablecoin-powered payouts for merchants, initially focusing on cross-border transactions where settlement speed and cost are crucial. According to DoorDash co-founder Andy Fang, 'stablecoins have the potential to transform financial infrastructure.' Although the exact timing of the rollout of stablecoin payments at DoorDash has not been disclosed, Stripe is utilizing Tempo as a core component of its money movement products, enabling businesses to send, receive, and hold stablecoins alongside traditional currencies, with the goal of making global payments 'fast, cheap, and borderless.' The development comes as stablecoins and blockchain-based payment systems are increasingly becoming part of global money flows, with stablecoins being a $300 billion crypto asset class offering a cheaper and faster alternative to traditional banking rails for cross-border transactions. Stripe, a global payments company that processes nearly $2 trillion in annual payments, has made blockchain and stablecoins a central part of its strategy, having acquired stablecoin infrastructure firm Bridge for $1.1 billion in 2024 and crypto wallet provider Privy. The company has also partnered with crypto investment firm Paradigm to develop Tempo, a payments-focused blockchain that went live last month with infrastructure partners such as Mastercard, UBS, Klarna, and Visa. To support companies in adopting the technology, Tempo has launched a Stablecoin Advisory service to provide hands-on support for firms looking to transition their payment flows to blockchain.