DoorDash, along with several fintech companies, is integrating stablecoins into its payment processes using Tempo, a payments-focused blockchain 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 operating or preparing to operate parts of their payment systems on stablecoin rails. DoorDash, which operates in over 40 countries and generated 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.
DoorDash co-founder Andy Fang expressed his optimism about the potential of stablecoins to transform financial infrastructure. Although the exact timing of the launch of stablecoin payments at DoorDash has not been disclosed, Stripe is utilizing Tempo as a core layer for its money movement products, enabling businesses to send, receive, and hold stablecoins alongside traditional currencies. The goal is to make global payments faster, cheaper, and more seamless.
Stablecoins, a $300 billion crypto asset class with prices tied to fiat currencies, offer a cheaper and faster alternative to traditional banking rails for cross-border transactions. As Stripe, a global payments firm that processes nearly $2 trillion in annual payments, continues to invest in blockchain and stablecoins, it has made significant strides in developing a payments-focused blockchain.
The company acquired stablecoin infrastructure firm Bridge for $1.1 billion in 2024 and crypto wallet provider Privy. Additionally, it collaborated with crypto investment firm Paradigm to develop Tempo, which went live last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa.
Tempo is designed specifically for payment workloads, featuring sub-second settlement, fixed fees, and private transaction channels aimed at enterprise users. To facilitate the adoption of this technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for companies looking to transition their payment flows to blockchain.