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 finance. 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 introduce stablecoin-powered payouts for merchants, initially focusing on cross-border transactions where settlement speed and costs 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 when stablecoin payments will be available on 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 faster, cheaper, and more efficient. The stablecoin market, a $300 billion crypto asset class with prices tied to fiat currencies, promises 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, acquiring stablecoin infrastructure firm Bridge for $1.1 billion in 2024 and crypto wallet provider Privy. The company 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 support companies in adopting the technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to move their payment flows to the blockchain.