DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash is teaming up with a group of fintech companies to integrate stablecoins into their payment systems using Tempo, a blockchain platform developed by Stripe and Paradigm. This move marks a significant step towards the mainstream 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-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 launch stablecoin-powered payouts for merchants, initially focusing on cross-border transactions where 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 rollout of stablecoin payments on DoorDash has not been disclosed, Stripe is using Tempo as a core component of 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. With stablecoins becoming an increasingly important part of global money flows, Stripe has made significant investments in blockchain and stablecoin technology. The company has acquired stablecoin infrastructure firm Bridge for $1.1 billion and crypto wallet provider Privy, and has developed Tempo in partnership with crypto investment firm Paradigm. Tempo, which went live last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa, is designed specifically for payment workloads and features sub-second settlement, fixed fees, and private transaction channels. To support companies in adopting this technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to transition their payment flows to blockchain.