DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash and several fintech companies are integrating stablecoins into their payment systems using Tempo, a blockchain platform developed by Stripe and Paradigm, marking a significant step towards the mainstream adoption of blockchain-based financial infrastructure. Tempo, a payments-focused blockchain, has announced that companies such as DoorDash, Stripe, Coastal Bank, and ARQ are now using or preparing to use stablecoin rails for their payment operations. DoorDash, which operates in over 40 countries and generated nearly $75 billion in sales for local merchants last year, is working with Tempo to implement 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. A Paradigm spokesperson did not disclose the exact timeline for the launch of stablecoin payments on DoorDash. Meanwhile, Stripe is utilizing Tempo as a core component of 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," according to Neetika Bansal, Stripe's head of Connect and money management. The stablecoin market, a $300 billion crypto asset class with prices tied to fiat currencies, promises a cheaper and faster alternative to traditional banking rails for cross-border transactions. Stripe, a global payments company that processes nearly $2 trillion in annual payments, has made blockchain and stablecoins a central part of its strategy. The company acquired stablecoin infrastructure firm Bridge for $1.1 billion in 2024 and crypto wallet provider Privy, and 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.