DoorDash Partners with Stripe-Backed Blockchain to Introduce Stablecoin Payments

DoorDash, along with several fintech companies, is incorporating stablecoins into its payment systems using Tempo, a blockchain platform developed by Stripe and Paradigm, marking a significant step towards mainstream adoption of blockchain-based financial infrastructure. Tempo, a payments-focused blockchain, has announced that companies such as DoorDash, Stripe, Coastal Bank, and Latin American fintech ARQ are now utilizing or preparing to utilize stablecoin rails for parts of their payment operations. 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. According to DoorDash co-founder Andy Fang, 'stablecoins hold real promise for transforming financial infrastructure.' A Paradigm spokesperson has not disclosed the exact timeline for when stablecoin payments will be implemented at 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,' as stated by Neetika Bansal, Stripe's head of Connect and money management. Stablecoins, a $300 billion crypto asset class with prices tied to fiat currencies, offer a cheaper and faster alternative to traditional banking rails 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, 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 that went live last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa. To facilitate the adoption of this technology, Tempo has launched a Stablecoin Advisory service to provide hands-on support for companies transitioning their payment flows to blockchain.