DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash, along with several fintech companies, is integrating stablecoins into its payment systems through Tempo, a payments-focused blockchain developed by Stripe and Paradigm. This move marks a significant step towards incorporating blockchain-based financial infrastructure into mainstream payments. Tempo has announced 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. 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. According to DoorDash co-founder Andy Fang, stablecoins have the potential to transform financial infrastructure. While the exact timing of the rollout is not 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, with the goal of making global payments fast, cheap, and borderless. 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 offering 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 a central part of its strategy, having acquired stablecoin infrastructure firm Bridge and crypto wallet provider Privy. The company has also developed Tempo, a payments-focused blockchain designed for enterprise users, which launched last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa. To support companies in adopting the technology, Tempo is introducing a Stablecoin Advisory service to provide hands-on support for firms looking to transition their payment flows to blockchain.