DoorDash to Introduce Stablecoin Payments with Support from Stripe-Backed Blockchain

DoorDash and several fintech companies are incorporating stablecoins into their live payment processes using Tempo, a payments-focused blockchain developed by Stripe and Paradigm, marking a significant step towards the adoption of blockchain-based finance in mainstream infrastructure. Tempo announced on Tuesday that companies such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ are either currently using or preparing to use stablecoin rails for parts of their payment operations. As a global operator in over 40 countries, DoorDash generated nearly $75 billion in sales for local merchants last year and is working with Tempo to roll out stablecoin-powered payouts, initially focusing on cross-border transactions where speed and cost are crucial. According to DoorDash co-founder Andy Fang, 'stablecoins hold significant promise for transforming financial infrastructure.' 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 'fast, cheap, and borderless,' as stated by Neetika Bansal, Stripe's head of Connect and money management. The stablecoin market has grown to a $300 billion crypto asset class, with prices tied to fiat currencies, offering a cheaper and faster alternative to traditional banking rails for cross-border transactions. As a global payments firm processing nearly $2 trillion in annual payments, Stripe 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. Stripe has also collaborated 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. Designed specifically for payment workloads, Tempo features 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 facilitate 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.