DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash and several fintech companies are integrating stablecoins into their payment systems using Tempo, a payments-focused blockchain developed by Stripe and Paradigm, marking a significant step towards mainstream adoption of blockchain-based financial infrastructure. Tempo announced that companies such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ are now using or preparing to use stablecoin rails for parts of their payment operations. 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 launch of stablecoin payments at DoorDash has not been disclosed, Stripe is utilizing Tempo as a core layer for 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,' as stated by Neetika Bansal, Stripe's head of Connect and money management. The development comes as stablecoins and blockchain rails 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, which processes nearly $2 trillion in annual payments, has made blockchain and stablecoins central to its ambitions, and has acquired stablecoin infrastructure firm Bridge for $1.1 billion and crypto wallet provider Privy. The company has also partnered with crypto investment firm Paradigm to develop Tempo, a payments-focused blockchain designed specifically for payment workloads, which went live last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa. To support companies in adopting the technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to move payment flows onchain.