DoorDash Partners with Stripe-Backed Blockchain to Introduce Stablecoin Payments

DoorDash, along with several fintech companies, is integrating stablecoins into its payment systems using Tempo, a payments-focused blockchain developed by Stripe and Paradigm, marking a significant step towards the 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, operating in over 40 countries with 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. According to DoorDash co-founder Andy Fang, 'stablecoins have the potential to transform financial infrastructure.' While the exact timing of stablecoin payments going live at DoorDash has not been disclosed, 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.' 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 offering a cheaper and faster alternative to traditional banking rails for cross-border transactions. Stripe, processing nearly $2 trillion in annual payments, has made blockchain and stablecoins central to its ambitions, including the acquisition of stablecoin infrastructure firm Bridge and crypto wallet provider Privy, as well as the development of Tempo, a payments-focused blockchain designed for enterprise users with features like sub-second settlement and fixed fees. To support companies in adopting the technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to move payment flows onchain.