DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash, along with several fintech companies, is integrating stablecoins into its payment processes using Tempo, a blockchain platform developed by Stripe and Paradigm. This move marks a significant step towards the mainstream adoption of blockchain-based financial systems. 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 introduce 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." Although the exact timing of the rollout is unclear, a Paradigm spokesperson confirmed that stablecoin payments will be introduced at DoorDash in the near future. Meanwhile, Stripe is utilizing Tempo as a core layer 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," as stated by Neetika Bansal, Stripe's head of Connect and money management. The development comes as stablecoins and blockchain rails are increasingly becoming part of 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 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, featuring sub-second settlement, fixed fees, and private transaction channels. To support companies in adopting the technology, Tempo has launched a Stablecoin Advisory service to provide hands-on support for firms looking to move payment flows onchain.