DoorDash, along with several fintech companies, is integrating stablecoins into its payment systems using Tempo, a blockchain platform developed by Stripe and Paradigm, marking a significant step towards the mainstream 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 planning to use its stablecoin 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 introduce stablecoin-powered payouts for its merchants, initially focusing on cross-border transactions where speed and cost are crucial. According to DoorDash co-founder Andy Fang, 'stablecoins have the potential to transform financial infrastructure.' While the exact timing of the rollout of stablecoin payments at DoorDash has not been disclosed, Stripe is using 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 a part of global money flows, with stablecoins being a $300 billion crypto asset class that offers a cheaper and faster alternative to traditional banking systems for cross-border transactions. Stripe, which 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 like Mastercard, UBS, Klarna, and Visa. To support the adoption of this technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for companies looking to transition their payment flows to blockchain.