DoorDash, along with several fintech companies, is integrating stablecoins into its live payment processes 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 operating or preparing to operate parts of their payment systems on stablecoin 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 hold real promise for transforming financial infrastructure.' A Paradigm spokesperson declined to disclose the exact timeline for the implementation of stablecoin payments at DoorDash. Meanwhile, 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.
This development comes as stablecoins and blockchain rails are increasingly becoming integral to 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, 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 like Mastercard, UBS, Klarna, and Visa.
Tempo is designed specifically for payment workloads, featuring sub-second settlement, fixed fees, and private transaction channels aimed at enterprise users, contrasting with general-purpose blockchains that often face congestion and unpredictable costs. To facilitate the adoption of this technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to transition their payment flows to blockchain.