DoorDash Partners with Stripe-Backed Tempo to Introduce Stablecoin Payments

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. This move marks a significant step towards the mainstream 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 generated nearly $75 billion in sales for local merchants last year, is working with Tempo to introduce stablecoin-powered payouts for merchants, starting with 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.' While the exact timing of the rollout of stablecoin payments at DoorDash has not been disclosed, Stripe is utilizing Tempo as a core layer for its money movement products, enabling businesses to send, receive, and hold stablecoins alongside traditional currencies. The goal is to make global payments 'fast, cheap, and borderless,' as stated by Neetika Bansal, Stripe's head of Connect and money management. With stablecoins becoming an increasingly important part of global money flows, Stripe has made significant investments in blockchain and stablecoins, including the acquisition of stablecoin infrastructure firm Bridge for $1.1 billion and crypto wallet provider Privy. The company has also developed Tempo, a payments-focused blockchain designed specifically for payment workloads, which went live last month with infrastructure partners like Mastercard, UBS, Klarna, and Visa. To support companies in adopting this technology, Tempo is launching a Stablecoin Advisory service to provide hands-on support for firms looking to transition their payment flows to blockchain.