DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

DoorDash, along with several fintech companies, is integrating stablecoins into its payment systems using Tempo, a blockchain platform backed by Stripe, marking a significant step towards the mainstream adoption of blockchain-based financial infrastructure. Tempo, a payments-focused blockchain developed by Stripe and Paradigm, announced that companies such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ are either currently using or preparing to use stablecoin-based payment rails. 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. "Stablecoins have the potential to transform financial infrastructure," said Andy Fang, co-founder of DoorDash. A Paradigm spokesperson did not disclose the exact timeline for the implementation of stablecoin payments 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 pegged to fiat currencies, promises a cheaper and faster alternative to traditional banking rails for cross-border transactions. Stripe, a global payments firm that processes nearly $2 trillion in annual payments, has made blockchain and stablecoins a central part of its strategy. The company acquired stablecoin infrastructure firm Bridge for $1.1 billion in 2024 and bought crypto wallet provider Privy. It also partnered with crypto investment firm Paradigm to develop Tempo, a payments-focused blockchain that went live last month with infrastructure partners such as Mastercard, UBS, Klarna, and Visa. Tempo was designed specifically for payment workloads, featuring sub-second settlement, fixed fees, and private transaction channels aimed at enterprise users, contrasting with general-purpose blockchains that often face congestion and unpredictable costs. To facilitate the adoption of this technology, Tempo announced the launch of a Stablecoin Advisory service, offering hands-on support for companies looking to transition their payment flows to blockchain.