DoorDash is joining forces with a group of fintech companies to integrate stablecoins into their payment systems using Tempo, a payments-focused blockchain developed by Stripe and Paradigm, marking a significant milestone in the adoption of blockchain-based financial infrastructure. Tempo has 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 introduce stablecoin-powered payouts for its 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 timeline for the rollout of stablecoin payments at DoorDash has not been disclosed, Stripe is utilizing Tempo as a core component of 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 technology are increasingly becoming integral to global money flows, with stablecoins representing a $300 billion crypto asset class that offers 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 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 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.