DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash is joining forces with a group of fintech companies to integrate stablecoins into their payment systems using Tempo, a payments-focused blockchain developed by Stripe and Paradigm. This move marks a significant step towards the adoption of blockchain-based financial infrastructure. Tempo has 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 facilitated 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 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. The goal is to make global payments 'fast, cheap, and borderless,' as stated by Neetika Bansal, Stripe's head of Connect and money management. The development comes as stablecoins and blockchain rails are increasingly becoming integral to global money flows, with stablecoins being a $300 billion crypto asset class that offers 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, 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 companies in adopting the technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to transition their payment flows to blockchain.