DoorDash and a group of fintechs are integrating stablecoins into their live payment flows with the Stripe-led Tempo blockchain, the latest sign that blockchain-based money is entering traditional financial infrastructure.
The payments-focused Tempo blockchain, developed by Stripe and venture capital firm Paradigm, said in a blog post on Tuesday that companies including DoorDash, Stripe, Coastal Bank and Latin American fintech ARQ are running or preparing to run parts of their payments operations on stable rails.
DoorDash, which operates in more than 40 countries and generated nearly $75 billion in sales for local merchants last year, is working with Tempo to deploy stablecoin-based payments for merchants, starting with cross-border flows where settlement speed and cost are most important.
“Stablecoins hold great promise for transforming financial infrastructure,” DoorDash co-founder Andy Fang said in a statement.
A Paradigm spokesperson declined to disclose exactly when stablecoin payments will go live on DoorDash.
Stripe, meanwhile, uses Tempo as the core layer for its money transfer products, allowing businesses to send, receive and hold stablecoins alongside traditional currencies. The goal is to make global payments “fast, cheap and borderless,” said Neetika Bansal, head of connection and financial management at Stripe.
Assets of $300 billion
The news comes as stablecoins and blockchain rails increasingly become part of global monetary flows.
Stablecoins are a $300 billion crypto asset class whose prices are tied to fiat currencies and promise a cheaper and faster alternative to traditional banking avenues for cross-border transactions.
Stripe, a global payments company that processes nearly $2 trillion in annual payments, has placed blockchain and stablecoins at the heart of its ambitions. The company acquired stablecoin infrastructure company Bridge for $1.1 billion in 2024, then purchased crypto wallet provider Privy.
It also partnered with crypto investment firm Paradigm to develop a payments-focused blockchain called Tempo, which went live last month with infrastructure partners including Mastercard, UBS, Klarna and Visa. The chain was designed specifically for payment workloads, with features such as sub-second settlement, flat fees, and private transaction channels aimed at enterprise users. This contrasts with general-purpose blockchains, which often face congestion and unpredictable costs.
To help businesses adopt the technology, Tempo announced Tuesday that it is also launching a Stablecoin advisory service to offer hands-on assistance to businesses looking to move payment streams on-chain.
Read more: Stripe doubles down on blockchain and stablecoins, aiming to become “AWS for money”
