DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

A coalition of fintech companies, including DoorDash, is integrating stablecoins into their payment processes through Tempo, a blockchain platform developed by Stripe and Paradigm, marking a significant milestone in the adoption of blockchain-based financial infrastructure. Tempo, a payments-focused blockchain, has announced that several companies, such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ, are either currently using or planning to use stablecoin-based payment systems. 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 settlement speed and cost are crucial. According to DoorDash co-founder Andy Fang, 'stablecoins have the potential to transform financial infrastructure.' Although the exact timeline for the implementation of stablecoin payments at DoorDash has not been disclosed, Stripe is utilizing Tempo as a core component 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.' The development comes as stablecoins and blockchain technology are increasingly being integrated into global financial systems, with stablecoins representing a $300 billion crypto asset class that offers a cheaper and faster alternative to traditional banking systems for cross-border transactions. Stripe, a global payments company that 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 such as Mastercard, UBS, Klarna, and Visa. To support companies in adopting the technology, Tempo has announced the launch of a Stablecoin Advisory service, providing hands-on support for firms looking to transition their payment flows to blockchain.