DoorDash, along with several fintech companies, is integrating stablecoins into its payment processes using Tempo, a blockchain platform developed by Stripe and Paradigm, marking a significant step towards the mainstream adoption of blockchain-based finance. 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 rails for 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 introduce stablecoin-powered payouts for merchants, initially focusing on cross-border transactions where settlement speed and cost are crucial. "Stablecoins have the potential to transform financial infrastructure," said DoorDash co-founder Andy Fang. A Paradigm spokesperson did not disclose the exact timeline for the launch of stablecoin payments on DoorDash. Meanwhile, 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," according to 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 that offers 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 has been designed specifically for payment workloads, featuring sub-second settlement, fixed fees, and private transaction channels aimed at enterprise users, in contrast to general-purpose blockchains that often face congestion and unpredictable costs.
To support companies in adopting the technology, Tempo is also launching a Stablecoin Advisory service to provide hands-on support for firms looking to move their payment flows onchain.