In a significant move towards mainstream adoption of blockchain-based financial infrastructure, DoorDash and several fintech companies are integrating stablecoins into their payment systems using Tempo, a payments-focused blockchain developed by Stripe and Paradigm. Tempo 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. DoorDash, which operates in over 40 countries and facilitated 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 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 timeline for the rollout of stablecoin payments at DoorDash has not been 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. The goal is to make global payments faster, cheaper, and more seamless. As stablecoins and blockchain technology continue to gain traction in global money flows, Stripe, which processes nearly $2 trillion in annual payments, has made blockchain and stablecoins a key part of its strategy.
With the launch of Tempo last month, which features sub-second settlement, fixed fees, and private transaction channels, Stripe aims to provide a more efficient and cost-effective alternative to traditional banking rails for cross-border transactions. To support companies in adopting this technology, Tempo is also introducing a Stablecoin Advisory service to offer hands-on support for firms looking to transition their payment flows to blockchain.