DoorDash Partners with Stripe-Backed Blockchain to Introduce Stablecoin Payments

DoorDash, along with several fintech companies, is integrating stablecoins into its payment processes using Tempo, a payments-focused blockchain developed by Stripe and Paradigm, marking a significant step towards the mainstream adoption of blockchain-based financial infrastructure. Tempo announced that companies such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ are either currently using or planning to use stablecoin-based payment systems. DoorDash, operating in over 40 countries with 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. "Stablecoins have the potential to transform financial infrastructure," said DoorDash co-founder Andy Fang. A Paradigm spokesperson did not disclose the exact timeline for when stablecoin payments will be available on DoorDash. Meanwhile, 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," 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 systems for cross-border transactions. Stripe, a global payments firm processing nearly $2 trillion in annual payments, has made blockchain and stablecoins central to its ambitions, acquiring stablecoin infrastructure firm Bridge for $1.1 billion in 2024 and crypto wallet provider Privy. The company also partnered with crypto investment firm Paradigm to develop Tempo, a payments-focused blockchain that launched last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa, designed specifically for payment workloads with features like sub-second settlement, fixed fees, and private transaction channels for 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.