DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash has teamed up with a group of financial technology companies, including Stripe-led blockchain firm Tempo, to integrate stablecoins into their payment systems, marking a significant step towards the mainstream adoption of blockchain-based financial infrastructure. Tempo, a payments-focused blockchain developed by Stripe and venture capital firm Paradigm, 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. As a global food delivery platform operating in over 40 countries, DoorDash is working with Tempo to introduce stablecoin-powered payouts for merchants, initially focusing on cross-border transactions where settlement speed and cost are crucial. 'Stablecoins have the potential to transform financial infrastructure,' said DoorDash co-founder Andy Fang. Although the exact timing of the launch of stablecoin payments on DoorDash has not been disclosed, Stripe is utilizing 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,' according to Neetika Bansal, Stripe's head of Connect and money management. With stablecoins becoming an increasingly important part of global money flows, the news comes at a time when this $300 billion crypto asset class is gaining traction. Stablecoins offer a cheaper and faster alternative to traditional banking rails for cross-border transactions, with prices tied to fiat currencies. As a global payments firm processing nearly $2 trillion in annual payments, Stripe 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 designed specifically for payment workloads, which went live last month with infrastructure partners such as Mastercard, UBS, Klarna, and Visa. To support companies in adopting the technology, Tempo has launched a Stablecoin Advisory service, providing hands-on support for firms looking to move their payment flows to the blockchain.